It seems as though the old adage of patience being a virtue may finally pay off for those traditional sellers who have been holding off on entering the market.
DSNews.com reported that home prices increased again in March for a second consecutive month, which has not happened since August of 2010. The data, based on a RE/MAX housing report, showed a median March price of $184,525. This was found to be up 7.3 percent over February’s median price.
Also of interest was the finding that 10 out of 53 metro areas that were looked at saw significant year-over-year price increases, with two of them being in Florida. Orlando experienced a 12.7 percent increase in home prices over the year, while Miami saw a gain of 21.8 percent.
This data, coupled with the fact that March was the 21st consecutive month that inventory on the housing market has dropped, is definitely an indication that that now is the time for traditional sellers to consider entering the market. Particularly in Orlando, which is one of top 10 metro areas with the greatest drop in inventory.