There is good news about the outlook of the housing market, and not just for those who buy and sell homes, but for those who build them as well.
Two of the nation's top 50 best-selling neighborhoods are in the Jacksonville area. One year ago at this time, we reported that new home sales were at a 10-year low in Northeast Florida, now they're on the way back up.
"We work hand in hand with homebuilders, and they are certainly seeing the up-tick as well, they are not worried about making ends meet, they can do this full time again," Realtor Howard Flaschen said.
Flaschen is noticing a steady upswing in home construction. The first real up-tick since the housing market unraveled. Two of the countries top selling neighborhoods, are right in our backyard, Nocatee and Durbin Crossing.
"Prices are back to before bubble prices, a lot of people thought they'd missed the train but the train came back around, and now people can get into a new home and community with a lot of amenities,"Flaschen said.
Flaschen warned builders are still being very careful in this economy. They're only building in places where they know, buyers really want to live. He said short sales and foreclosures are still attractive to some buyers, but others want the guarantee, that the house they want will be theirs.
"People want a guaranteed closing date, they want to pick their colors, there's an attraction to the warranty, not having to buy a home as is," Flasechen said. Industry analysts said the housing downturn may at least be nearing the bottom.
They say the turning point is here now, or right around the corner.