The housing market in Fort Lauderdale is slowing down and that is good news for home buyers. 

More homes in Fort Lauderdale are on the market and though home prices will not drop, they are increasing less dramatically than in the past five years. 

Why has this occurred?

Lewis Goodkin, a real estate industry consultant from Miami was quoted in the Sun-Sentinel (February 11, 2006) saying the market is basically a victim of its own success. 

Will Fort Lauderdale Home prices fall? 

No, definitely not.  Demand for South Florida real estate will continue to expand as Baby-Boomers move toward retirement and move to Florida.  And there is pent-up demand right here at home that will keep the market active.  Demand for homes and condominiums in Ft Lauderdale and South Florida has been building during the period of escalating prices while very few homes were offered for sale.

Prices of Fort Lauderdale houses and condominiums will continue to increase in 2006 and beyond, but at slow and steady rates of appreciation in real estate values that are healthier for the market and more sustainable. 

Prices of homes, and especially condominiums will slide in Miami and West Palm Beach, where experts say the condominium market is being overbuilt and new buildings will open just in time for this market slow-down.  Fort Lauderdale prices are safe because it has not been overbuilt.  Conscientious city government has made sure of that.

Why will this help home buyers?

More homes are on the market.  It's a fact.  Far more homes are on the market in all categories and classes.  More private homes, condominiums, and townhomes in every price range are on the market today than six months or a year ago. 

Some real estate speculators who bought homes and condos during the period of rapid price appreciation are ready to take their profits and go on to something else, especially as the payments on their adjustable-rate mortgages get higher with interest rates increasing.

With more homes on the market and remaining on the market longer, sellers will become more eager and buyers will have more to choose from.  It is not the seller's market that it has been and buyers are in better bargaining positions than before. 

Sales have slowed.  That's a fact. The volume of closed sales dropped appreciably in recent months.  Some buyers have been deterred by recent hurricanes.  The damage from Hurricane Wilma in particular is still evident in many areas and plays a subtle role in discouraging buyers who see some street signs missing and roofs here and there still covered with blue tarps while owners wait for insurance money or for the right shingles to become available to match the existing roof. 

Prices have stabilized.  More homes on the market and fewer buyers cannot help but have the effect of flattening prices.  Sellers are now actually competing against each other.  Home price increases in the last six months of 2005 were not near as dramatic as they have been in recent years.  

The Sun Sentinel quoted Coral Gables real estate analyst David Dabby saying "A stabilization in prices has occurred.  That doesn't mean that appreciation has stopped in all areas. It hasn't. You're just going to see more modest increases, at best."

All of this is good news for home buyers in Fort Lauderdale.  If you have been waiting for the market to slow down and for the selection of homes to expand, this is your opportunity to buy. 

Use my Home Finder to tell me exactly what you want in a Fort Lauderdale home, condo or townhouse and I will get back to you right away with a selection of properties for you to consider.