Have Luxury Housing Prices Hit Rock Bottom in South Florida?

October 17, 2012

It’s official, the housing market is turning around and this is probably the lowest you will ever see the prices of luxury oceanfront condominiums and luxury waterfront estates.

Home prices and sales of luxury waterfront homes from Miami Beach to Palm Beach and single family homes are increasing in most regions of the country, according to an article by moneyrates.com.       

This is the perfect time to buy that luxury oceanfront condominium or waterfront estate you have been thinking about, especially if you’re an investor. More and more financial analysts are agreeing that the housing market is on the upturn.

“A turn in the housing market is occurring now and it should become a boom by 2015,” said Roger Altman, previous deputy Treasury secretary, in an article for the Financial Times.

Many analysts and real estate investors think that this is the case. The S&P/Case-Shiller Home Price Index indicates that home prices have been on the rise all year. Many investors believe that the interest rates will follow in 2013.

“The housing market may be better off than people know. As many found out during the housing boom, waiting until everyone knows the market is healthy before you buy can be an expensive proposition,” according to moneyrates.com.

Source: Moneyrates.com