Nearly half the homes sold in March – 48.2 percent – were purchased by first-time buyers, according to a survey of more than 1,500 real estate practitioners by Campbell/Inside Mortgage Finance.
"Many observers had felt that the pool of first time home buyers had been depleted last fall," Thomas Popik, research director for Campbell Surveys, said in a statement. "Instead, the normal spring-summer buying season is combining with the tax credit to produce blow-out results for first-time home buyers."
Panama City Commercial Real Estate Market Is Looking Up
Despite the rising number of defaults, the commercial real estate market is improving.
Prices are up. Commercial real estate values have risen 6 percent in recent months, according to Real Capital Analytics.
Nearly $14 billion in loans were modified in the last six months.
Investors also have been aggressively buying commercial mortgage-backed securities (CMBS). Research firm Trepp predicts that $25 billion in CMBS will be issued in 2010.
Panama City Real Estate | Florida
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