Housing Affordability Increases Home Values and Buyer Demand in Florida
October was a milestone month for the recovering housing market as national home values rose by 1.1 percent from September, the largest monthly gain in seven years. Additionally, this increase marks the 12th straight month of home value gains, the first time that has happened since the housing market started to decline in 2006. This positive news has strengthened buyer confidence, boosting the Real Estate market and making now a great time to purchase a new home in Tampa, Orlando, Lakeland and Winter Haven.
From October 2011 to October 2012, national home values rose 4.7 percent, with 26 of the 30 largest metro areas seeing rising values. Zillow attributes the consistent increases to affordable home prices, job growth and a decline in the inventory of homes listed on the market (lowest levels in a decade). This combination, along with rising rents and low mortgage rates, has led to more buyers trying to purchase fewer homes, creating a higher demand for new homes.
Stan Humphries, Zillow’s chief economist, expects demand to pick up even more in 2013. “The bottom line is that homes are more affordable than at any time in recent memory, and buyers are seizing this opportunity,” states Humphries.
As a premier Florida home builder, Highland Homes builds quality new homes in more than 25 communities throughout Central Florida. New homes from Highland Homes are affordably priced from the low-$100,000s and to make purchasing a new home even more affordable, qualified buyers can move into their dream home for only $99 down.
This New Year make your resolution to break free from renting and celebrate the recovering housing market by purchasing a Tampa, Lakeland, Orlando or Winter Haven new home. For more information on all of our beautiful Florida communities, visit the Highland Homes website.