Florida real estate registers the strongest market rebound rate in the country to date.
Freddie Mac has released its latest MiMi or Multi-Indicator Market Index which shows Florida as having the strongest real estate market rebound in the country. According to the MiMi, Orlando tops the nation in month-to-month and year-to-year comparison. And in a report by Space Coast Daily, only one city that does not belong to the Sunshine State has made it to the top five list in both time categories. These are Orlando, Greenville SC, Cape Coral, Tampa and Jacksonville.
Comparison in the month-to-month index shows Florida with a 2.0 percent increase followed by Colorado with +1.99 percent, New Jersey +1.83 percent, Connecticut +1.80 percent and Nevada +1.48 percent. In the year-to-year index, Florida gained 14.35 percent followed by Oregon +13.35 percent, Nevada +12.18 percent, Colorado +11.65 percent and Washington +10.18 percent.
According to Len Kiefer, Deputy Chief Economist for Freddie Mac, Florida's housing market is the most improving in the country due to the fact that more borrowers are becoming current with their payments on mortgages. He also said that with the rise in employment rate, house prices rebounded with relative ease. He also called the overall status of real estate in the country good saying, "Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year."
Meanwhile, according to OPP Today, for the first time ever, Colombian investors have shown interest in South Florida real estate and at a very high rate. The record for the most number of searches for Miami real estate previously belonged to Brazil but Colombia has taken that spot away from them. This is according to the Miamire.com, the website of Miami Realtors. Venezuela came third followed by the French. Other countries that show interest are Argentina, Canada, India, Peru, Spain, and Italy.
