A strong 2015 for Florida’s housing market seems to point to 2016 as being another good year. HousingWire reports that according to data released by Florida Realtors, the state ended with more new listings, closed sales, and higher median prices than the prior year.
While the growth might not be considered rapid, it can definitely be labeled as steady. Home prices are rising at a moderate rate and Florida’s overall economy is also growing as more jobs are created and mortgage interest rates remain historically low.
Florida’s single-family home sales increased 12.4 percent in 2015 and the total number of homes sold reached 274,769. In addition, new listings for single-family homes rose 3.7 percent and the median sales price for the state was $196,000.
Home prices are expected to continue to rise throughout 2016.