Historical values of homes in Central Florida

This graph shows the median end of year value of homes in Central Florida, since the year 1989. When looking at the graph you will see that historically  prices in our area go up 3.11% a year. This graph also shows us  how the housing bubble effected our market and how unrealistically it effected our market values. The graph also shows us that in the year of 2010 we hit the bottom, with the median value of only $105,000. This was a huge drop from the historically high value of $250,000 in 2006, which as we all know by now were inflated by faulty appraisals and pick a payment mortgages.  Let’s look at what is happening today. The median home value is up to $122,900 and rising steadily. The trend line tells us that the median value should be $140,000. We can expect to return to the historic trend by between the end of 2013 and the middle of 2014. It is my feeling that the market is correcting itself. We can not expect any jump in the market value as buyers are careful and do not intend to get burned again.