TIME TO GET OFF THE FENCE

It has been said that you will only know that the housing market has hit the bottom after it begins to rise again. Sales in January were up 50% in Florida as compared to a year ago. Sales of foreclosed properties and short sales, plus sales of all "existing Homes" continued to shrink the inventory of properties listed for sale. The median prices of existing single-family homes sold in January, 2009 were at 2002 levels. In Miami-Dade County this level in January, 2009 was $208,100. Those in the know say that it was after 2002 that prices began to soar to unsustainable levels. The above data was reported by the Florida Association Of Realtors. The numbers are County and Florida specific with no allowances being made for individual neighborhoods that may be either ahead, or behind the trends.