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Broward home prices bottomed 10 months ago

October 27, 2011 03:50PM

Broward County home prices have already hit their valley, and are now showing stability and potential for growth.

The Sun-Sentinel noted that median home prices in the country have yet to drop lower than the $165,100 the Florida Association of Realtors reported in January, and have hovered between $188,800 and $196,000 between May and September. That is a good indication of stability.

For comparison’s sake median home prices in Palm Beach County have been volatile, and most of South Florida in general has experienced price declines from a year ago. Not so in Broward.

“Most likely, we’re not going to see prices return to that low,” said Brad Hunter of research firm Metrostudy. [Sun-Sentinel]