Florida mortgage rate shoppers and home buyers take note – national Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January. However, don’t let this lull you into thinking that home prices will remain low as a result.
The future of a recovering housing market still looks bright. I say this primarily because of the following facts:
- Sales volume is up in most cities
- Home values are up in most places
- Low mortgage rates are making homes affordable
Builders here in Florida and around the nation had to take a construction breather at some point — and this is it. This is especially true as the window for the First Time Home Buyer Tax Credit comes to a close.
The last thing Florida home builders want in this world is to be loaded back up with excess housing inventory.
Some of the news coverage categorized August’s Housing Starts as a sign of continued housing market decline. I think such statements were “overstatements.” One down month after 8 consecutive increases signifies a much healthier outlook in my book.
Bottom line: Single-family starts are up 34 percent on the year. The housing market is recovering just fine.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage loan originator, I’m your guy. Call me at 888-859-7418 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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