Florida's Housing Market on the Upswing -- Better Days Ahead

Posted by Donny Mak on Friday, December 14th, 2012 at 1:00am.

Florida Housing Market on the Rise

The market will continue its upward trend into 2013, said Dr. John Tuccillo, chief economist for Florida Realtors, which is holding their Florida Realtors® 2013 Real Estate and Economic Forecast Conference in Orlando this week.

Other experts at the conference we just as upbeat, one reporting that distressed properties are winding down from about 5 million at the height, to about 3 million today.

The median sales prices are rising for single-family homes and condo-townhomes. Other signs of steady improvement includes the fact that 44 percent of sales were cash transactions, from January to October of this year. A good sign that investors are coming back to the table. As for sellers, the experts are predicting rising prices will bring more of them back in 2013.

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