A little more than a week ago came news that the median home price in the Daytona Beach area surpassed $300,000 for the first time ever. It s amazing, said John Adams, president of Adams Cameron & Co. Realtors. The real estate market is through the roof, no question about it.
Realtors are understandably happy about the higher prices. But for average workers in Volusia and Flagler counties, the American dream of home ownership is ever more out of reach.
Business Editor Clayton Park s story about the climbing prices for homes explained the conditions that are leading to the boom. Namely, a lot of people with money to spend are moving to Volusia and Flagler counties, many of them retirees from up north seeking their slice of Florida paradise. Low interest rates are also fueling the boom. And although interest rates will likely go up by the end of this year, no one expects the higher rates to greatly slow real estate sales here.