S & J Journal

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See below for recent real estate market conditions for the 33133 and 33134 zip codes, which include Coconut Grove and Coral Gables, from September 2012-September 2013.

The Home Price Index report just released by CoreLogic shows home sales prices increased in 2012 by 7.5% and predicts they are on the road to rise 6% in 2013, leading to a continued housing recovery. Read the Florida Realtors article and access the full report.

Florida Realtors reported that the nation is seeing the highest pending home sales figures in over five years. The data reflects activity in the market in the form of contracts (not closings). “The Pending Home Sales Index (PHSI) in the Northeast slipped 0.1% to 79.2 in October, but it’s 13.3% above a year ago. In the Midwest , the index jumped 15.6% to 104.4 in October, and is 20.0% above October 2011. In the West, it declined 1.1% in October to 105.7, but is still 0.9% above October 2011. Pending home sales in the South rose 5.5% to an index of 117.3 in October, and that is 17.4% higher than a year ago."  Read more here .

Approaching housing boom... We have been saying that housing prices in the Gables have been creeping upward, a good sign of a recovering market. Now Florida Realtors reports that economists predict a new national housing boom by 2015, with prices rising by 5% to 7.5% per year and home construction by 20% per year.   Florida Realtors Article