Florida's Housing Market Shows Signs of Strength

According to the latest report by Florida Realtors, Florida's housing market is showing new signs of strength.

Home sales are up 17% from the beginning of this year and condo sales are up 8%. The reasons for the increase in sales are low prices and low mortgage rates. The median price for a home in Florida is $135,000 - 5% lower than last year.

Low home prices and low mortgage rates are making Florida homes affordable to those who were previously unable to buy a home.

School Property Taxes Expected to Increase

School property taxes in Florida are expected to increase 1.3% by next year, signaling an increase in property values. This is one of the most promising signs of recovery in the Florida housing market.

Property appraisers and real estate agents are already seeing signs of improvement in the housing market. Appraisers for the downtown Miami area have seen property values increase over 12% this year over last year and higher income neighborhoods like Coral Gables are already seeing higher property taxes.