In December 2011 home prices in South Florida were up 0.2% while home prices nationwide fell. The article reports that in spite of this rise the market is not expected to stabilize and prices will continue to fall while the market finds its bottom. The increase in foreclosures in January and beyond will certainly affect the market as foreclosed homes flood onto the market. Additionally, as posted previously on this site, Florida ranks second in the nation in numbers of households spending at least half their income on housing expenses. As long as this continues to be the case, foreclosures will continue and the market recovery will be delayed by foreclosures.
If you are facing a foreclosure, please give me a call so we can discuss how I can help.