Florida Real Estate on the Upswing

Can news of inflation ever be good news? Yes, when it indicates that a turnaround may be in store for Jacksonville's housing market. A University of Northern Florida economist reports that last month's 1% jump in Jacksonville's consumer price index may signal a revival of the city's real estate market.

"Normally, a jump of inflation of 1% would be very disconcerting, but when it indicates a growing recovery in the housing market, it's not as bad as it appears on the surface," said Paul Mason, an economist with the University of Northern Florida and coordinator of the Local Economic Indicators Project.

There's more good housing news from Central Florida as well. "Geographically, Central Florida is going to be the recovery point for the state of Florida," said Roger Soderstrom, owner and founder of Stirling Sotheby's International Realty. He said "pent-up demand" is bringing people back into a buying mode and forecasts an upward swing in the market with buyers able to find homes they love at affordable prices.

Soderstrom notes that people who have owned homes for a decade or more have also experienced strong appreciation in their property's value. He predicts that real estate will continue to make gains in Florida, with the state continuing to attract newcomers and retirees.

If you know someone who is thinking about moving to the Jacksonville area, please pass my name and number along. There are some great homes at affordable prices out there just waiting for some new owners!

Gina