National Real Estate - New Report Reveals South Florida Growing As Economy Recovers



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New Report Reveals South Florida Growing As Economy Recovers

 
As economies nationwide are improving, many metro areas continue to grow larger, and a new report from the U.S. Census Bureau reveals cities in some Southern states, including Florida, have seen a jump in population.

Friday July 13th, 2012

 

As economies nationwide are improving, many metro areas continue to grow larger, and a new report from the U.S. Census Bureau reveals cities in some Southern states, including Florida, have seen a jump in population.

The agency evaluated population increases in 2011 that occurred in cities with more than 100,000 residents. The number one spot was New Orleans, which saw a population growth of nearly 5 percent from April 2010 to July 2011.

Tampa, Florida, was listed as the twelfth fastest growing city on the list of 15, as the population jumped 3.1 percent. A report from the Greater Tampa Association of Realtors says sales prices for single-family homes are up 8 percent from the previous year and have increased to $143,000, serving as another indication that the local housing market is steadily improving.

Additionally, homes are selling nearly 20 percent faster than a year ago, and more homeowners who are selling are getting closer to their asking prices. A high inventory of foreclosures and short sales had previously hindered market prices, making it difficult for sellers to be competitive in a buyer's market.

"The recovery in Florida's housing market and economy continues to grow stronger and stronger," Summer Greene, 2012 president of the Florida Realtors organization, told the Tampa Bay Times.

Other southern cities, including Atlanta and many in Texas, have seen improvements, while other well-known metros including New York City, Los Angeles, Houston and Chicago still have thriving and large populations.

National real estate trends have a major impact on the real estate market on a daily basis. Keeping up-to-date on the latest news and notes posted by GL Homes can make sure those looking for South Florida homes know exactly how the current market will affect them.