Florida’s existing home, condo sales up in October 2009
Existing-home sales record another big gain, says NAR
Florida’s existing home sales rose in October, marking 14 months that sales
activity has increased in the year-to-year comparison, according to the
latest housing data released by Florida Realtors.
Existing home sales rose 45 percent last month with a total of 15,160 homes
sold statewide compared to 10,444 homes sold in October 2008, according to
Florida Realtors. Statewide existing home sales last month increased 5.1
percent over statewide sales activity in September.
Florida Realtors also reported an 82 percent increase in statewide sales of
existing condos in October compared to the previous year’s sales figure;
statewide existing condo sales last month rose 6.1 percent over the total
units sold in September.
Housing industry analysts with the National Association of Realtors® (NAR)
note that sales of foreclosures and other distressed properties continue to
downwardly distort the median price because they generally sell at a
discount relative to traditional homes.
According to NAR’s latest industry outlook, the housing market is
continuing its positive momentum.
“We’re getting early indications of price stabilization, but we need a
steady supply of qualified buyers to meaningfully bring inventories down and
return us to a period of normal, steady price growth,” said NAR Chief
Economist Lawrence Yun.
Posted: 23 November 2009
Source: Florida Association of Realtors
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