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.
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