Summer may be just about over as many of you begin making back to school preparations, but things are still heating up in the housing industry. We’ve found numerous articles during the past couple of weeks that illustrate positive signs of a strong housing market across the nation as well as some positive news affecting us locally and around the Sunshine State.
· The July 2012 Real Trends Housing Report shows that the rate of housing sales increased strongly on an annualized basis over a year ago. Overall, July 2012 new and existing unit sales were up 13.8 percent from a year ago. The annual rate for July of 2012 was 5.224 million, up substantially from 4.590 million in July 2011.
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The average price of homes sold increased significantly rising 6.10 percent from July 2011 to July 2012, marking the fourth consecutive month of increased home sale prices and the highest growth in the average price in seven years. CoreLogic sees housing as a bright spot in gloomy economy with REO sales dropping, inventory levels declining and the nation's foreclosure inventory slowing. The result of these conditions is a balancing of supply and demand, and the beginning of price stability—even price growth.
· Florida led the nation in job demand in July, with job postings in Florida increasing by nearly 13 percent over July 2011.
· Florida regained its Top 10 status in attracting venture capital with $94.8 million invested in 11 business ventures in the state from April to June. That's a 168 percent increase from the previous three months when Florida came in at 20th in the nation.
· Florida’s index rose by .35 in June, reversing a five-month streak of declining numbers according to a report by the Federal Reserve Bank of Philadelphia.
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Consumer confidence among Floridians rose in July by three points which is nine points higher than this time last year.
This report was developed by Dewey Campbell, Prudential Tropical Realty.
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