Jim Esposito Agent Shot

Jim Esposito

Intercoastal Realty

(954) 336-3776

housing market updates

search south florida homes for sale


fort lauderdale real estate news

Home    


Like This Blog? Click Here to Share with Your Friends and Colleagues

 

Help Me CRUSH My Competition



Ft Lauderdale Real Estate News 07/17/13


listed homes for sale increase in south florida as more inventory appears on real estate market


The number of homes listed for sale increased by 4.3 percent in June to 1.9 million homes, the highest level in the last year, according to data released Monday by Realtor.com.

Housing inventory has steadily declined over most of the past two years. Listings typically climb heading into the spring and summer, when housing activity hits a seasonal peak. But inventories appear to be posting larger-than-usual gains in many markets right now as they rise from their lowest levels in at least a decade. Economists say rising home prices could convince more sellers to test the market if price increases keep up.

Nationally, the number of homes listed for sale stood 7.3 percent below their levels of one year earlier. The year-over-year decline stood at 18.6 percent in February, by contrast.

Among the nation’s 30 largest markets, listings were above the levels of a year earlier in four places. All four of those markets had seen big inventory declines over the past two years. Housing inventory was up by 11 percent in Sacramento, Calif.; by 10.9 percent in Atlanta; by 6.2 percent in Phoenix; and by 2.2 percent in Miami.

Another five cities posted declines of less than the national average decline of 7.3 percent: Los Angeles, Philadelphia, Baltimore, Chicago, and Charlotte, N.C.

By contrast, inventories were far below last year’s level in Boston (-35.1 percent), Denver (-30.1 percent), Detroit (-25.7 percent), Seattle (-23.2 percent), and San Francisco (-21.7 percent).

For the last two years, real estate agents in a growing number of markets have complained that the low supply of homes for sale has limited the number of transactions – even though the supply constraints have propelled home prices higher.

The question now is whether higher inventory will lead to higher sales volumes, and whether it will also slow the pace of home-price gains. Another wild card: how homeowners respond to mortgage rates that have jumped by at least a percentage point over the last two months.

Compared with May, inventories rose in 20 cities, according to Realtor.com. The data showed a spike in listings in Southern California, with inventories rising by 51.5 percent in Orange County, by 45.7 percent in Los Angeles and by 18.1 percent in San Diego.

Nationally, median asking prices rose by 0.5 percent in June from the previous month to $199,900, and by 5 percent from one year ago. Some 27 of the top 30 metro areas posted annual gains.

The Realtor.com figures include sale listings from more than 800 multiple-listing services across the country. They don’t cover all homes for sale, including those that are “for sale by owner” and newly constructed homes that aren’t always listed by the services.

© 2013 Dow Jones & Company, Inc.



To see more great real estate investments go to

Investor Central




HyperSmash
Pingates

Find out more at:

http://www.fortlauderdalebeachproperty.com


If you are not on the phone to me right now
you are costing yourself money


a high rating realtor I specialize in the location
of the best deal on luxury and waterfront real estate
in ft lauderdale, boca raton and south florida


Jim Esposito

Intercoastal Realty

the best ft lauderdale realtor

(954) 785-8558 Office
(954) 336-3776 Mobile


emailadd1

Great Deals    

Property Search    

Selling Your Home    

Foreclosures    

Free Lists    

Downtown Ft. Laud    

Neighborhoods    

Condos    

Income Property    

Investor Central    

Rentals    

Real Estate Blogs    

Webcams    

Links    

Client Log In    

Contact    

 

FREE!
FORECLOSURE
LISTINGS!

Updated Weekly!


Click Here!

12 Things
You've Got
To Know
Before Buying Foreclosures


Click Here!


Read Our Exclusive
& Informative Guide

How To Buy
Foreclosures


APPROVED
SHORT SALES


The Next Best Thing
to Foreclosures

In Some Ways
Perhaps Even Better


A whole new class of
Distressed Property

And they are

Ready To Go!

 

Free Lists

Click Here!


 
 
 
 

1500 East Las Olas Boulevard
Fort Lauderdale, Florida 33301

Jim Esposito

fort lauderdale homes for sale

(954) 785-8558 Office
(954) 336-3776 Mobile


emailadd1

Home  ♦  Selling Your Home  ♦  Property Search  ♦  Great Deals  ♦  Foreclosures  ♦  Income Property  ♦  Investor Central  ♦  R.E. Blogs  ♦  Webcams  ♦  Links  ♦  Contact  ♦  Sitemap