Has the South Florida Residential Real Estate Market Turned a Corner Yet? New Studies Give Conflicting Results.


Last week, we discussed the latest analysis of the South Florida commercial property market and the good news that industry leaders believe that commercial real estate has turned the corner here in the Miami-Dade | South Florida area. (For details read our post entitled, "Miami Commercial Real Estate Turns the Economic Corner According to New Report by CB Richard Ellis.")

Today, we're seeing corresponding industry analysis being discussed and weighed as it regards the South Florida residential real estate market -- which is a big deal in the Miami marketplace what with the upsurge in foreign interest in our community's beachfront and waterfront condominiums. However, indicators do not appear to be as clear for residential real estate as commercial property here in South Florida.

Standard & Poor/Case-Shiller vs. Federal Housing Finance Agency Perspectives

Two new reports have been released regarding the local residential real estate market, and they are not jiving. First, the Standard & Poor /Case-Shiller release was issued today. It is good news: according to Case-Shiller, things are looking up.

Meanwhile, the Federal Housing Finance Agency has also recently released its quarterly housing index, and while the FHFA is said to follow the same steps as Case-Shiller, i.e., creating an index through a comparison of past sales prices to present sales prices in the region, the federal agency numbers are not as optimistic.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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