As Real Estate Professionals we are often asked this question whether from an interested buyer or seller or a new aquaintance who is just making conversation. Most people seem surpised when we tell them the market is GREAT! Our team is busier than ever and according to other sources we are not alone.

On April 29, 2010, in a Gainesville, Florida article titled UF: Florida Real Estate Market Has Hit Bottom, Timothy Becker, director of UF's Bergstrom Center for Real Estate Studies said "Results of our first quarter survey indicate that the real estate market in Florida has hit bottom and is in the process of stabilizing across most property types." While the article goes on to mention areas of concern, the overall message is a positive one. Florida is beginning to show tentative signs of recovery from this most painful of recessions.

Becker also said that Miami, Orlando, Tampa and Jacksonville are picking up. "Florida's big cities – those four areas – are less bad off than the rest of the state, and they're going to recover quicker than other places." 

Our own National Association of Realtors chief economist Lawence Yun stated, "Sales have been above year-ago levels for nine straight months and inventory has trended down from year-ago levels for 20 months running." Steady upward trends such as this point to a broad stabilization in home prices, explains Yun. March figures reflect Yun's statement as the median home price for resale homes climbed 3.4 percent from February.

We do not often see such a great opportunity to buy real estate where both interest rates and housing prices are low. It is unlikely that interest rates and prices will both remain low much longer. Now is a great time to buy and saavy first time homebuyers and investors are helping improve market conditions and paving the way for a full recovery.