Fast-rising home prices stir fears of another bubble
South Florida’s once-moribund housing market has rallied, with bidding wars pitting investors against first-time buyers in a chaotic race for a limited supply of homes.
But amid the frenzy comes a concern: Are prices rising too fast?
For much of the past year, Broward and Palm Beach counties have seen double-digit median price increases for existing homes. The January medians jumped by more than 20 percent in both counties compared with a year ago. Traditionally, the typical home appreciates at about 4 percent annually.
Read more of “Fast-rising home prices stir fears of another bubble” by the South Florida Sun SentinelTags: College of Business, FIU, FIU Business, Florida International University, Hollo School of Real Estate, Ken Johnson, Media Coverage 2013
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