Post-sale occupancy increases in South Florida as sellers regain upper hand

One indication that home sellers are regianing the upper hand in some of South Florida’s housing markets comes from the proliferation of deals with a clause allowing the seller to stay in the home after the transaction has closed. According to the Sun Sentinel, those types of deals are increasing throughout South Florida and now comprise up to 20 percent of all sales.

“It’s still a buyer’s market,” said Michael Citron, a real estate agent in northwest Broward County. “But in desirable neighborhoods with not a lot of inventory, buyers are fighting to get the houses.”

Those neighborhoods include Parkland, Weston, Boca Raton, Wellington and Palm Beach Gardens, where some of the best-kept homes and well-regarded schools are located, the Sun Sentinel said. Despite many attorney’s advice against it, buyers are increasingly agreeing to rent out the homes for short periods — often to accommodate parents’ concerns over their children’s schools — in order to ensure they land the home. [Sun Sentinel]