In addition to fully funding the housing trust funds, the Florida Legislature passed other Florida Realtors priorities including record amounts of environmental funding, comprehensive affordable housing policy changes, eliminating discriminatory housing restrictions and providing clear guidelines for emotional support animal (ESA) certificates. Bills passed head to the governor for final approval.
CoreLogic's chief economist Dr. Frank Nothaft said, "January marked the third consecutive month that annual home price growth accelerated in our national index, as low mortgage rates and rising income supported home sales. In February, mortgage rates fell to the lowest level in more than three years, which likely will spur additional home shopping activity and price appreciation."
So, have we recovered? I suggest you take a look at this price chart from our local MLS. It shows median home prices for the last 10 years. In 2009 the recovery had already started. There was a bit of a dip at the end of 2010, but since then you can see we have had steady increases in the median home price in this area. We may not be back at the unnaturally overinflated prices prior to the crash, but we are doing just fine. If you purchased a home 10 years ago in this area at the median price point, you would see a 73% appreciation. Averaged over 10 years, that's 7.3%/year. According to Zillow, the national average home appreciation rate is between 3-5%, so I'd say we've done pretty well.
“Mortgage rates that remain historically low and strong economic trends continue to help fuel Florida’s housing market,” says 2019 Florida Realtors President Eric Sain, a Realtor and district sales manager with Illustrated Properties in Palm Beach. “In another positive sign, pending inventory for existing single-family homes was up 1.7% year-over-year, while pending inventory for existing condo-townhouse properties was up 0.9%.