Home Affordability Becoming an Issue in Florida

housing market
Homeowners in and around Jacksonville, FL may be wondering what is going on in the housing market. There always seems to be an up-tick, followed by a down-tick, with no solid reason being attributed to these fluctuations. The mortgage company, Freddie Mac, may have at least some of the answers.

In a story recently published, Freddie Mac identified what it feels is affecting real estate in Florida. There was mixed news in the report: 
“South Florida's housing market remains stable, though affordability is becoming a concern, according to a report Wednesday from mortgage company Freddie Mac. The tri-county region scored 88.3 in January on Freddie's Multi-Indicator Market Index, a 15 percent improvement from a year ago.”

Source: <a href="http://www.sun-sentinel.com/business/realestate/fl-freddie-mac-housing-20160330-story.html">Slow wage growth making housing less affordable</a> by Paul Owers.
​According to the deputy chief economist working at Freddie Mac, while the jobs market in general is stronger, and there is a decrease in overall unemployment, wages are not keeping pace with home prices. Within the story, Freddie Mac says that stagnant wages may be making home affordability more challenging for more people in Florida. So, what does this mean to you?

It could mean that more homeowners will choose to stay in their current homes. For these homeowners, improvements such as installing hardwood flooring may be the best way to add real value to the property. It is a known fact that hardwood floors add value to a home and do so immediately after installation. It is also known that hardwood floors are one of the most affordable home improvements that consumers can buy for their homes. 

While the housing market works its way through all its many problems, homeowners really do have options that can add value to the home while adding beauty to it as well; hardwood floors can do both. 

Today, homeowners in Florida can buy hardwood floors in a variety of wood species, making it very easy for anyone to find the exact color tone of flooring that they want. Consumers can also choose between solid hardwood floors and engineered hardwood floors. With engineered hardwood flooring, installation can be performed safely below grade. This means that virtually any room in the home, including basement rooms, can now enjoy the warm beauty of hardwood.

At About Floors n’ More, we carry a complete selection of quality hardwood floors, at affordable prices, and we offer the best flooring installation services in the entire Jacksonville area.