Florida Housing Market Getting Stronger: Perfect Time to Purchase an Orlando New Home
When the housing market bubble busted five years ago, Florida was one of the hardest hit states as a result of overbuilding and high unemployment, but things are improving in Florida, and quickly. The Florida housing market is recovering, and according to recent data, home prices are rising and the number of inventory homes is declining. This is a result of a more stable housing market which means now is the perfect time for home buyers to purchase a Tampa, Lakeland or Orlando new home.
Data currently ranks Florida as the 7th strongest housing market in the nation. Home prices in the last year have increased 6.6% with a median home price in Florida of $236,000. From the first quarter of 2012 to the first quarter of 2017, the annual price improvement is forecast at 4.2%, which is 11th highest among all states. According to Florida Realtors, sales of existing homes rose 9.8% in July 2012 compared to July 2011, with the inventory of existing homes at 5.3 months as opposed to 9 months of inventory in July 2011.
As home prices rise and inventory homes decline, buyers have more confidence and are looking to purchase before they are priced out of the market. At Highland Homes we offer quality homes in more than 25 communities throughout Central Florida. Our home designs feature three to five bedrooms with popular features like luxury masters, great rooms and covered lanais, and are priced from the low-$100,000s. To make purchasing even more affordable, qualified buyers can move into their Orlando, Winter Haven, Tampa or Lakeland new home for only $99 down.
Take advantage of the recovering Florida housing market and purchase a new home from Highland Homes today! For more information on our beautiful communities, visit the Highland Homes website.