News for UK buyers of Orlando property
Florida's existing-home sales rose year-over-year for a 10th
consecutive month in June, mirroring sales in the Orlando area,
though the statewide median price - like Orlando's - remained sharply lower
than it was just a year ago.
Resales of single-family homes were up 28 percent in June, according to the
Florida Association of Realtors. Resales of condominium units were up 39
percent.
The median sales price for single-family properties last month was down 28
percent from a year earlier. But for a second month in a row, the median was
higher than the previous month's, up 2.5 percent from May. The median price
paid for condos was down 37 percent from a year ago, which was also down
slightly from May.
Nationally, the June data suggested the existing-home market overall has
started to recover from the most far-reaching crisis since the Great
Depression. Seasonally adjusted sales of previously occupied homes rose for
a third month in a row in June, the National Association of Realtors
reported. That hasn't happened since early 2004, during the housing boom.
"The turnaround in the housing market appears finally to be here and
indeed may be gaining some speed," wrote Joel Naroff, president of
Naroff Economic Advisors Inc.
In another encouraging sign, the share of foreclosures on the market
nationwide shrank in June. About one of every three homes sold in June was
foreclosure-related, down from nearly half earlier this year.
Posted: 24 July 2009
Source: Orlando Sentinel
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