Is it a Good Time to Buy in South Florida?

By: Katja Kukovic

Even though April home and condo sales are down in parts of the South Florida compared to last April, some real estate agencies have noted that their pending contracts in this past month were at their highest levels since mid last year-when the market was at its peak.

Smart buyers are moving to buy because the interest rates are hovering in the low 6% range and home values are at their prime.

Motivated sellers are seeing a lot of action because they priced their properties correctly at the advice of Realtors. Overbuilding has been one of the major contributing factors to the market correction. The excess inventory is quickly being absorbed by a growing South Florida real estate market now that new construction has slowed and buildings have been completed. Now is most definitely a buyers market because South Florida is on the verge of another upswing.

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