Florida Housing Market, Miami Real Estate

Florida Housing Market Starts Nearing Bottom

According to the latest report by Metrostudy, a housing market research firm, the December 1 sunset of the $8,000 federal tax credit program for first-time homebuyers may reverse the recent gains in housing starts.

Brad Hunter, chief economist and national director of consulting for Metrostudy, said in a news release, “We believe that some of the recent gains in housing starts could be given back during the third and fourth quarters of this year if the current tax credits are not extended,” and “That said, the forecast for 2010 is for steady increases in starts.”

Metrostudy’s report comes one day before the U.S. Department of Commerce releases national housing start figures. Hunter said the report is expected to say that September starts were up for single-family homes, but multifamily starts were down.

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