Wednesday, March 14, 2007

UF: Florida single-family housing hits bottom

From an article in the Jacksonville Business Journal
A University of Florida study suggests the state's single-family residential housing market has bottomed out.
"If you're thinking of buying a house, there's probably not much to be gained by holding out at this point," said Wayne Archer, director of UF's Bergstrom Center for Real Estate Studies. "It doesn't look like prices are going to fall anymore." Read the entire article.
My take:
It's certainly starting to look like the perfect storm: Lots of homes to choose from, great incentives, we haven't had a hurricane in months!, and if they do away with the property taxes look for demand (and pricing) to start heading back up. If you're still on the fence about Florida, it might be time to start thinking about getting off.