Broward County’s housing market is nothing short of exuberant, according to August data from the Greater Fort Lauderdale Realtors group.
The county’s median price last month was $270,500, a 26 percent increase from a year ago. August marked the ninth straight month that the median gained by more than 20 percent.
Investor demand has helped revive Broward’s real estate market from a six-year bust, fueling a year of rapid price appreciation, the Sun-Sentinel reported.
Some industry observers say the pace is unsustainable.
Prices will level once investors have had their fill, giving more opportunities to traditional buyers, Lewis Goodkin, a South Florida housing consultant, told the newspaper.
“To me, that’s the sign of a healthy housing market,” he said. [Sun-Sentinel] — Emily Schmall