South Florida Real Estate Broker Comments On Ocean Front Homes In Boca Raton, Florida

>"Homes for sale in Florida are starting to sell faster than they have these past few months. Oceanfront homes in Boca Raton have been keeping our phones very busy with buyers showing interest worldwide. They are scheduling appointments to come to the US and visiting several locations during a three or four day stay,"

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Boca Raton Florida Real Estate News And Statistics

Although existing-homes declined slightly during the month of September, the national median home price has recorded its seventh consecutive monthly increase, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops, are on pace to reach 4.75 million units sold for 2012, an 11 percent increase over August 2011 levels. The trend is positive, says Lawrence Yun, NAR chief economist. "Despite occasional month-to-month setbacks, we're experiencing a genuine recovery," he said. "More people are attempting to buy homes than are able to qualify for mortgages, and recent price increases are not deterring buyer interest. Rather, inventory shortages are limiting sales, notably in parts of the West." Mortgage giant Freddie Mac reported a national commitment rate for 30-year, conventional fixed-rate mortgages dropped to a record low in September. Rates were averaging 3.47 percent, down over 1.5 percent from the same time a year ago. Reduced inventory figures prominently sustained growth. "The shrinkage in housing supply is supporting ongoing price growth, a pattern that could accelerate unless home builders robustly ramp up production," Yun said.

THE BASS GROUP For more information about News, Events, Shows, Activities and things To Do In Boca Raton Florida contact your South Florida Real Estate Advisors www.SFREA.com or Call MARK SANDULLI 954-839-7406