Posted on February 12, 2015 - 12:48 PM
by Trudy Province & Cindy Arnold
Home sales volumes are on the rise, marking a determining step on the road to market recovery. With a history of high growth, Florida is one of the 10 fastest-growing states in
the United States. By 2030, the state population of Florida is expected to inflate by 75%
Low Mortgage Rates
Florida is known for warm weather and low mortgage rates. Since the 1960s, Florida's mortgage rates have remained steady, benefitting homebuyers. This also makes upsizing a more accessible feat, marking Florida as a premier housing destination for families and those looking to save on cost.
In a study that compared well-being in homeowners versus renters, research pointed to homeowners displaying higher levels of life satisfaction. Homeowners have a strong financial stake not only in property, but in the community as well. Studies also concluded that children raised in owned homes compared to rentals are more likely to graduate high school.
According to the National Association of Realtors® the average homeowner has seen an increase in value of 50%. Average home price appreciation is expected to grow annually, leaving homeowners with an extreme advantage in the real estate market.
Per Lending Institution
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