Stagnant Real Estate Industry Starting to Flow

November 18, 2011 / Russell Legato, Residential Property Analyst

Current real estate trends show people from the East and Midwest are looking at property in Florida. Retirees are moving to areas where they can buy more house for less money. This causes strong demand in areas with the most foreclosures and low asking prices. Nothing attracts buyers more and they will look to the depressed areas. Demand will grow and the market will stabilize as a result. The question is, how soon?

Stagnant Real Estate Industry Starting to Flow

Some cities that experienced the worst crises are now seeing things picking up. Retirees from all over will move there as they see the opportunity for cheap, but nice, housing. Florida is seeing the highest number of strong buyers. The North Port-Bradenton-Sarasota area tops the list of cities with the most buyers. The real estate market is showing improvement in cities such as Fort Lauderdale and West Palm Beach.

One example is Bradenton. Six people are looking at properties there for every one current resident looking at properties elsewhere. There is an influx of strong buyers. New Yorkers and Chicagoans are showing interest in Florida properties along the coast. Florida’s real estate market is a rush compared to other parts of the country.

The Internet makes home shopping fast and easy. The National Association of Realtors reports that 40 percent of those who bought a house in the period between July 2010 and June 2011 found it on the Internet.

Two California cities in a warm climate see more move-ins than move-outs. Riverside and Thousand Oaks-Ventura-Oxnard were among those most affected by the plummeting prices. Now strong buyers are noting the bargain prices and moving in.

Other strong buyers in the housing market are the real estate investors. Those who can afford to buy have found the mother lode.

Articles other readers have found interesting...

Top News Stories:

Comments are closed.