It is no secret that the real estate market was hit hard economically. But recent statistics show that the real estate industry is moving back up, making things look promising for 2012.
-In the state of Florida, the total number of homes sold for 2011 were up by 8 percent compared to numbers from 2010.
-According to the Nashville Business Journal, Nashville, Tennessee office vacancy continues to decrease. In early 2010 it was 14.4 percent. By the end of 2011 it was 12.7 percent. By the end of 2012, it is anticipated that office vacancy will drop even further, to 11.9 percent.
-Median list prices for all homes for sale, nationwide, went up 5 percent from 2010 to 2011. In Miami, median list prices in 2011 rose a whopping 32 percent! In Naples and Fort Myers, nearly 22 percent. In Punta Gorda, nearly 20 percent. These particularly high numbers in Florida show that the entire state is on its way back up.
-According to the National Association of Realtors, industrial vacancy rates are projected to fall from 12.3 percent in the fourth quarter of 2011 to 11.7 percent in the fourth quarter of 2012. Cities with the lowest vacancy rates include Los Angeles, California (5.2 percent), Orange County, California (5.7 percent), and Miami, Florida (8.4 percent).
-Current apartment vacancy rates are at 5.9 percent nationally, a level that matches that of the real estate market boom from several years ago, with rent rates expected to increase significantly over the next few years.
-While the growth in home ownership for national households, year over year, has grown 1.5 percent, the number of people renting homes, apartments, and condominiums is up 3.4 percent, suggesting there could be growth opportunities for multi-family commercial real estate investors.
-Adjustable and fixed mortgage rates are up in terms of affordability, in 2011 were rated an A-plus by the U.S. Building Market Intelligence Report.
-Job growth has increased in some cities in the United States, including Phoenix, Arizona; Orlando, Florida; Washington DC; and cities throughout Texas.
-In Austin, Texas, the number of single-family homes sold in in 2011 went up 7.5 percent from 2010, with a 1.4 percent increase in the prices of homes sold. There is also a 10.5 percent decrease in the amount of time it took in Austin to sell a home in 2011 compared to 2010. In November 2011 compared to November 2010, there was a 26 percent decrease in the number of homes actively for sale.
