The housing market is alive and well in Fort Lauderdale, but now we have some research statistics from some trusted real estate resources to back that up.

In order to measure the changes in the real estate market, the National Association of Realtors (NAR) uses The Pending Home Sales Index. This indicator is based on contract signings, or pending real estate sales. According to NAR, pending home sales increased by 7.3% in November 2011 to 100.1. Contrast this with November 2010, when the index reflected a much lower index score of 94.5. In one year, there has been a national increase in real estate sales of 5.6%, the highest level in over 19 months. The last time the index was this high was in April 2010, when it was artificially inflated due to the rush to take advantage of home buyer tax credits. This current increase is not an artificial increase, but rather an authentic improvement in economical resources. That is a trend that we see here in Broward County, and we expect to see it continue in the year 2012.

Homes for sale in Fort Lauderdale have certainly been reflective of that trend. We have seen a steady rise in the number of contracts placed on homes, increased competition for single family homes and multifamily housing, and an slight increase in pricing due to said competition. In the very short time we have had to look at activity during 2012, we have seen increased activity in comparison to the last 3 months of 2011. The number of leads we receive on a daily basis from individuals interested in fort lauderdale homes for sale have increased significantly, and the amount of competition for the existing homes for sale seems to have also increased. Our clients often make offers on fort lauderdale homes for sale that are already pending sale, and this is happening 2-3 times in a row as opposed to “occasionally.”

Even Lawrence Yun, the NAR chief economist, seems optimistic. In an article published in Real Estate Insights, he states, “November is doing reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.” Now you’ve heard it from NAR’s expert, and you can read that article here.

If you are in the market for one of the many excellent Fort Lauderdale homes for sale, now is the time to take a look and get your feet wet. Why do we think so? In addition to the above positive indicators, there are a few other points to consider. First, the existing fort lauderdale homes for sale inventory has been shrinking consistently, and the increasing competition leads us to believe that we will begin to see real estate values improve this year. Secondly, rental prices are also increasing. That’s no surprise-we all expected this to be an excellent rental market, and investors have a reason to buy again. Rental prices are up an average of 2.4% from last year, with larger increases expected this year. New jobs are being added to the economy, so people have more cash in their pockets to rent a nicer place or buy one of their own.

Lastly, the low mortgage interest rates are too good to pass up these days. This is one of the bright spots of the down economy over the past 5 years. With the rates being as low as they are and the rental market being as good as it is, investors and renters will help this trend continue in 2012. There are some excellent properties available right now, but you need the right guidance to find those among the many Fort Lauderdale homes for sale. Contact us and we can help you do that. And one more thing-don’t be afraid of short sales. They don’t have to be long, complicated processes if you have the right team to help you.

Mike Benton is an experienced real estate professional specializing in real estate investment, development, and sales in S. Florida.