The Stable South Florida Housing Market

The real estate market in South Florida has one of the most stable housing markets in the United States. According to the Multi-Indicator Market Index, Broward, Palm Beach and Miami-Dade counties scored 85.3% last September. It scored 13% higher than the previous year. The top score is 100 and a score of at least 80 is considered as stable. The Multi-Indicator Market Index keeps track of housing affordability, local employment, mortgage applications as well as delinquencies.

Florida Property management announced that South Florida ranks as the 33rd on a list of the top 100 biggest markets nationwide. Last August, South Florida ranked as the 35th and it has increased two spots higher. Economist Len Kiefer stated that the improvement is due to prompt mortgage payments.

The Courtyard Shop at 13860 Wellington trace was sold earlier this month for $52.8 million. The 127,000 square foot shopping center was bought by an affiliate of Publix Super Markets. The seller Federal Realty Investment Trust bought it for $7.8 million and sold it for $52.8 million.

Meanwhile, the medical office building in Fort Lauderdale along 3536 Federal Highway was sold to Federal Associates Inc. The demand for well located facilities is great among medical users in Broward County.

Source: sun-sentinel.com