Economist: Florida existing home prices could rise 10 percent in 2012

Existing home prices in Florida could increase by as much as 10 percent by the end of this year, according to Lawrence Yun, the chief economist for the National Association of Realtors, the Palm Beach Post reported. “Compared to other parts of the country, the Florida market, particularly South Florida, is [recovering] very rapidly from oversupply to a shortage of inventory,” Yun said at a conference in Palm Beach. “That clearly implies we will begin to see some modest turnaround.” [Palm Beach Post]