The South Florida residential real estate market is at bottom according to
Dr. Lawrence Yun, NAR Chief Economist. “I think the prices have already
pretty much bottomed in the South Florida market,” Yun said. “The rest of
the country is more difficult to say but I think here, given the buyers, the
prices have already bottomed in Florida.” “Soon you will reach the point of
equilibrium where home prices begin to show growth,” Yun said. “It is always
difficult to precisely predict. I think that many people who are buying
today in this month – June of 2009 – if they look back a year from now in
June 2010, I think many people will see that they have actually gained in
equity.”

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