Call us today (352) 587-5908

Florida Housing Market Report 2Q 2013

Florida Housing Market Tampa

Florida Housing Market Report 2Q 2013

The Florida Housing Market Report 2013 Second Quarter shows home values increased 2.4% from the 1st quarter of 2013 to $161,100. The Florida Housing Market 2013 Second Quarter marks the largest annual gain since August 2006 and largest quarterly gain since the fourth quarter of 2005. On an annual basis, the Zillow Home Value Index (ZHVI) rose 5.8% from June 2012 levels.

Housing Market Appreciation

Monthly appreciation remains strong with national home values growing by 0.9% from May. Not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern U.S., such as Atlanta, Chicago and St. Louis, that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas in the United States experienced annual appreciation in home values as of the end of the second quarter. Every major market in the US has hit their bottom.

Increases In Home Values Expected in 241 out of 257 US Submarkets

According to the Zillow Home Value Forecast (ZHVF), we expect national home values to increase 5% over the next year (June 2013 to June 2014). Of the 257 markets covered by the Zillow Home Value Forecast, 241 markets are expected to see increases in home values over the next year, with the largest increases expected in the Sacramento CA metro area (18.9%) and the Riverside CA metro area (16.6%).

Many California markets follow closely at the top of the list of markets expected to see the highest home value appreciation over the next year. According to the ZHVF, 234 markets (91%) have already hit a bottom in home values, and another 13 are expected to hit a bottom by June 2014.

US Housing Market Highlights

  • National home values rose 2.4% from the first to the second quarter. This quarter marks five consecutive quarters of national home value appreciation.
  • Of the 257 markets covered by the Zillow Home Value Forecast, 241 markets are expected to see increases in home values over the next year, with the largest increases expected in the Sacramento metro (18.9%) and the Riverside metro (16.6%).
  • Approximately 72% of the metros covered by the Real Estate Market Reports posted annual increases in home values – a sign of the national housing recovery continuing to take hold.The Zillow Rent Index (ZRI) covers 496 metro areas, and 57% of those metros reported annual increases in rents in June. Nationally, rents increased 1.6% in June from year-ago levels, denoting a slowing. This is a significant annual decline in the rental appreciation rate from its peak appreciation of 6.2% nationally in September 2012.
  • In some overheated markets, rapid home value increases coupled with rising mortgage rates will lead to housing prices and financing costs outpacing local income growth, which will also contribute to a moderation of the market. The U.S. housing market as a whole is currently not experiencing a bubble, but in many places it may feel like one, with some markets (Sacramento, Las Vegas, San Francisco) experiencing annual home value appreciation approaching 30 percent.

Home Values

The Zillow Real Estate Market Reports cover 389 metropolitan and micropolitan areas (metros) of which 259 showed quarterly home value appreciation. Three metros remained flat, while 127 metros show home values losses. Approximately 72% of the metros covered by the Real Estate Market Reports posted annual increases in home values – a sign of the national housing recovery continuing to take hold. Among the largest metros, Sacramento showed the largest annual increase with home values rising 29.5% from the second quarter of 2012 to the second quarter of 2013. We do believe that appreciation rates will return to more sustainable levels over the next year or two. Overall, national home values are back to August 2004 levels, down 17.2% since their peak in May 2007. A table of the top 30 metros can be found at the end of this report.

The Time Has Come To Buy A Home In Timber Pines

This may be the best time in history for you to buy a home in Timber Pines. Review Timber Pines homes listed for sale, but also take a couple of minutes to look closely at our featured listings in Timber Pines.

About Author

Scott SchaeferBelieving a private real estate agency that would exclusively focus on Timber Pines, that would utilize advanced web technologies and innovative Internet marketing strategies, would significantly outperform all other competing real estate agencies, Scott Schaefer founded Real Estate Timber Pines in late 2013. He now directs innovations in technology, search engine optimization and Internet marketing for the Timber Pines real estate agency, producing a more vibrant real estate market, which he believes benefits those buying a home in Timber Pines and those selling homes in Timber Pines alike. Schaefer developed a great deal of the website design, web marketing and search engine optimization experience needed for the Timber Pines real estate firm while with web design firm Lexington Development. The real estate and real estate marketing expertise needed to make this real estate agency successful were developed by Schaefer while with Dallas home builder, Lexington Luxury Builders from 1996 to 2009. The blending of the two diverse skill sets of new technology and old fashioned real estate skills is making Real Estate Timber Pines the unquestioned market leader in Timber Pines real estate.View all posts by Scott Schaefer →

Timber Pines Sold Listings
Real Estate Timber Pines Portfolio of sold homes Real Estate Timber Pines Portfolio of Homes For Sale Real Estate Timber Pines Homes For Sale
Timber Pines Real Estate Portfolio of Sold Homes Real Estate Timber Pines Find Homes For Sale Real Estate Timber Pines Find Homes For Sale