Still In A Slump - Prices, Sales of Existing Homes Continue to Plummet In South Florida
By Rosanne Catanzaro, Rosanne Catanzaro, Real Estate Broker
(Home Station Realty)
Now is a great time to purchase a property in a depreciating real estate market! Don't make the mistake to wait the market further and end up purchasing in an appreciating market! You must purchase when the market is down and when interest rates are at an all time low.Prices and sales of existing homes plummeted last month as South Florida's housing downturn stumbled into a third year. According to the "Florida Association of Realtors", Palm each County's medium price fell 12 percent in January, to $343,200 from $388,000 a year ago.Sales tumbled 26 percent, to 369 from 496. It was the fewest homes to change hands in any month countywide since the Realtors' group started releasing monthly housing statistics in 1994.The housing malaise also was evident in Broward County, across Florid...
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