Florida Housing Market Experiences Mixed Q1 Results
Over the past few months, I had the pleasure of attending two conferences on the state of the multifamily and housing markets: RealShare Apartments East and Urban Land Institute’s “Make Room-Residential Housing is Back.” Both were heavily attended by developers, investors, lenders, and brokers. While the RealShare conference included both national housing indicators as well as South.
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The first quarter saw mildly positive activity in Florida, with closed sales for single-family homes totaling 57,913, up a scant 0.3 percent on a year-over-year basis. But according to data from Florida Realtors, the Sunshine State’s condo-townhouse market was cloudy in the first quarter, with statewide closed sales totaling 24,534, a 6.1 percent year-over-year drop.
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· I was reading this report from Zillow on the future of home prices and it got me thinking about some of the macro trends in real estate. I’ve turned much more constructive on housing in the last year than I had been for the past 5-6 years. Before about 12 months ago I wouldn’t have told anyone to purchase a home in the USA, but about a year ago I started saying:
Overall, enrollments in the segment during the quarter were mixed. results contain special items, including total pretax restructuring charges of $8.8 million, primarily related to real estate.
Schottenstein– Chairman, President and Chief Executive Officer Thank you, Phil, and good afternoon, and thank you for joining our call to review our first quarter results. ll continue to monitor.
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