Home prices in Broward and Palm Beach counties continue rapid rise

sun-sentinel.com ^ | February 22, 2013 | Donna Gehrke-White

[ilovesarah2012]

Home prices in Broward continued their surge into the new year with the median sales prices on single-family homes jumping 24.5 percent in January compared with a year ago, the Greater Fort Lauderdale Realtors said Thursday.

The median house price catapulted to $224,088 last month, up from $180,000 in January 2012, the group reported. The median price for condos and townhomes jumped even more

[ilovesarah2012]

Are banks holding onto foreclosed homes to drive the prices up?

[bitterohiogunclinger]

I suspect that much of same dead beats that didn’t pay off their “foreclosed” homes are now buying new homes with subsidized mortgages that they will also not pay for.
It’s time for round two of Obama’s three card monty.

[VeniVidiVici]

I don’t think so. My mom has been looking for a place for the past month and has lost several houses to not making an offer fast enough. One house was only on the market for four days before it sold.

Her real estate agent says it is mostly investors snapping them up. And now with the prices rising, more are jumping in to take advantage of the interest rates before prices get any higher.

It’s certainly not because of job growth and a better economy.