Florida Real Estate Secrets

Florida real estate is still ground zero for the historic boom in housing prices and realty sales. People from all over the country are investing in Florida real estate, looking to cash in on record-high appreciation rates, or just hoping to enjoy some of the perfect weather here in the Sunshine State.

Florida real estate comes in all shapes and sizes. You can choose to invest in a gorgeous luxury condo in Miami, a sprawling single-family home in Naples, or a vacation home in Fort Lauderdale. You can also find Florida real estate to suit any budget.

Autumn 2005: Florida Housing Boom Tapering Off?

Right now, as autumn approaches, people are beginning to worry about a possible slow-down in Florida real estate sales. According to the National Association of Realtors, state-wide sales of existing homes were down in 2.6% in July 2005, when compared with sales for the previous year. 21,669 existing single-family homes were sold in the state of Florida in July, down 8% versus 2004.

Local realtors have also seen higher-priced properties ($1 million or more) sitting on the market longer than they used to.

South Florida real estate, which was once one of the fastest-growing markets in the country, has been particularly hard hit. Sales of Florida real estate in Broward County were down 28%. Palm Beach County saw a 16% decline in sales.