South Floridians Upbeat About Housing Market

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thumbs-upSouth Florida residents are a confident bunch when it comes to the housing market here.

Palm Beach, Broward and Miami-Dade counties registered a 67.5 on a new 100-point confidence index from Zillow.com. That’s higher than the national number of 63.7 and higher than all but one of the 20 metro areas surveyed – San Jose had a 69.4 rating.

The index by the Seattle-based website showed that 18 percent of current South Florida renters indicated they want to buy a home in the next year. The national average was 10 percent.

“Even after a wrenching housing recession, this data shows that the dream of homeownership remains very much alive and well, even in those areas that were hardest hit,” Zillow chief economist Stan Humphries said in a statement. “But these aspirations must also contend with the current reality, and in many areas, conditions remain difficult for buyers. The market is moving toward more balance between buyers and sellers, but it is a slow and uneven process.”

Zillow worked with research firm Pulsenomics to conduct the phone survey that logged more than 300,000 responses from consumers.

 

Source:  SunSentinel

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