While we are seeing some major turnarounds in the Real Estate markets in other parts of the U.S. like California, the South Florida housing market is losing some ground in turning around.

Miami-Dade County is the only Florida city to crack the quarterly list of "turnaround towns." Broward County has fallen out of the top ten and Palm Beach County is not even ranked. The list is based on a handful of factors, including recent price increases and the decline in the number of homes for sale.

This doesn't mean that Florida is not improving though. Since the market started its downward spiral in 2005, we have been lagging behind California somewhere between six and twelve months.

Every time The Novello Group goes to a national Real Estate conference, we make it a point to talk to agents all over the country. When we do, it just validates that we are lagging behind time-wise, and it is only a matter of time before we see a pick-up in the number of buyers and a decrease in the overwhelming amount of inventory.

The prediction by some of the top Real Estate agents and experts in the country is that the next 5-7 years should be a much stronger Real Estate cycle. This doesn't mean that prices are going to skyrocket to where they were at the peak, but at least we will see some slow and steady appreciation, which we haven't seen in a long time.

The Novello Group is ready for a change in the market and would love to help you buy or sell your next home. Please contact us today and we thank you in advance for your business.