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Investors benefit from low home prices in South Florida

Real estate investors in South Florida continue to make the most of low-priced properties.

Real estate investors in South Florida continue to make the most of low-priced properties.

Home sales in South Florida continued to increase in June, as real estate investors took advantage of numerous distressed properties and low home values. However, while many investors are enjoying the current state of the market, a number of families have had to hire moving companies because they can no longer afford their mortgages.

Home values in the region are still far below normal levels, which is positive news for families looking to move into a new home, the Miami Herald reports.

“I saw that the market was down, and now is a good time to buy a home,“ Hornel Joseph, who recently purchased a new home in North Miami for $150,000, told the news source. “We got a good deal.”

The falling home prices and troubling economy, however, have left others with underwater mortgages and few options. But a new report may spark some optimism among these homeowners.

According to the FNC, U.S. home prices rose a seasonally unadjusted 0.8 percent in May, making it the second straight month prices have increased.