Florida’s existing home, condo sales rise in February 2009
Florida’s existing home sales rose in February, making it the sixth consecutive
month that sales activity showed increases in the year-to-year comparison, according
to the latest housing data released by the Florida Association of Realtors® (FAR).
Existing home sales rose 20 percent last month with a total of 9,858 homes
sold statewide compared to 8,181 homes sold in February 2008, according to
FAR. February’s statewide existing home sales were 16.7 percent higher than
January’s statewide sales.
Florida Realtors also reported a 15 percent gain in statewide sales of
existing condominiums in February, continuing a trend in recent months for
higher statewide sales of both the existing home and existing condo markets
compared to year-ago levels. Statewide existing condo sales last month
increased 25.1 percent over the total units sold in January.
NAR analysts estimate the impact of the federal economic stimulus package
and lower interest rates on the housing market to be about 900,000
additional home sales in 2009 compared to conditions before the stimulus
package. By the end of the year, NAR expects inventory to fall below an
eight-month supply, which would be consistent with home price stabilization.
Posted: 23 March 2009
Source: Florida Association of Realtors
Click here for complete article
