South Florida buyers who found homes during the housing peak over 15 years ago are finally seeing value return to their homes, but it’s been quite a roller coaster ride.
The housing market took off around 2005, much like it is doing now, with buyers paying a premium to get into a home. Little did they know that a few years later the market would collapse, sending house values plummeting, with some homes losing half their value.
For example, the typical home value in Fort Lauderdale was $235,608 in March of 2007, around the height of the market. Home values would plummet to $89,073 in February of 2012, according to numbers from Zillow.
