Inventory of Homes Grows Nationwide; Significant Florida Home Loan Availability

Need more proof that this is a buyer’s market in which finding reasonable Florida home loans shouldn’t be a problem? Take the number of existing homes for sale.

The VERY large number. In a survey conducted bt Corzen -a real estate research firm based in New York City - online listings of properties for sale in the largest 100 metro areas in the nation grew 60 percent from May 2005 to May 2006

Median home prices were up 8.4 percent during that span, while “in some parts of the country … median asking prices showed steep declines, a clear sign of softening with the real estate market,” Corzen announced today.

List prices for existing homes dropped most in Florida, California, Massachusetts and Washington, D.C.-area suburbs in Virginia, Corzen also reported. Meanwhile, inventory in these areas shot up.

Charles Thibault, market analyst for Corzen said: “The sharp decline in asking prices for homes in a number of Florida counties coincides with a substantial increase in the number of homes that have been placed online with Realtor.com in the past year.”

Based on the survey, the number online Florida home loans for sale in some counties grew as much as 400 percent between May 2005 to May 2006, while median list prices in these counties fell about 25 percent during that period.