Last week we blogged about the top five cities on the "2011 Best and Worst Housing Markets" list. The Fort Lauderdale-Miami metro area snagged the #1 spot on both the best and worst lists, providing a glimmer of hope to homeowners in South Florida. Unfortunately the positive news ends there as Florida dominated the top 25 worst home markets, the emphasis on the South Florida market.
It's widely been publicized that Miami and Fort Lauderdale were two of the hardest hit regions by the housing collapse, notably due to the 30%+ annual increase in home prices from 2000-2005. However home markets in other hard hit states like Arizona and Nevada barely had a presence on either list suggesting that those markets have reached the bottom and begun to recover. If you're planning to purchase a home in Florida now may be the time to snap one up for a bargain! If you need help moving to or from Florida make sure you give check out our moving labor services.
Florida's Worst Home Markets at A Glance
- Of the top 25 worst housing markets, Florida snagged a staggering 17 spots. That means Florida accounts for an astonishing 68% of the entire list!
- Of the 17 Florida cities on the list, 10 are in the Fort Lauderdale-Miami metropolitan area
- Of the remaining 7 cities, 4 are in the Orlando metropolitan area
- The remaining 3 cities belong to Tampa bay, Ocala-Gainesville and Fort Myers-Naples
The 2011 Top 25 Worst Housing Markets
|4||Lehigh Acres, FL|
|5||Altamonte Springs, FL|
|6||North Miami, FL|
|7||North Lauderdale, FL|
|10||North Miami Beach, FL|
|11||Miami Gardens, FL|
|13||Kendall West, FL|
|23||Desert Hot Springs, CA|
|25||Deerfield Beach, FL|