South Florida’s housing market in 2013 was a tale of two halves.
The first was robust and frenetic, with annual home prices climbing quickly as investors and traditional buyers competed for a small pool of properties. The second was vibrant but less intense as investor buying cooled and price increases started to moderate.
For the year, Broward’s County median price for existing houses was $257,500, up 24 percent from a year ago, the Greater Fort Realtors reported this week. Sales rose 6 percent, to 15,005 from 14,101.
In Palm Beach County, the median price in 2013 was $244,000, 15 percent higher than 2012, according to the Realtors Association of the Palm Beaches. There were 15,604 houses that changed hands during the year, a 14 percent increase from 2012.
And that is good news for Miami and South Florida.
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