Florida’s existing home, condo sales rise in 4Q 2009
4Q existing-home sales surge
Sales of existing single-family homes in Florida rose 44 percent in fourth
quarter 2009 compared to the same period a year earlier, according to the
latest housing statistics from Florida Realtors®. A total of 43,926 existing
homes sold statewide in 4Q 2009; during the same period the year before, a
total of 30,610 existing homes sold. It marks the sixth consecutive quarter
that Florida has seen higher existing year-to-year home sales, according to
the state association.
Statewide sales of existing condominiums in the fourth quarter rose 93
percent compared to the same time the previous year. This marks the fifth
consecutive quarter for increased statewide sales in both the existing home
and condo markets compared to year-ago levels.
To gain insight into current trends in Florida’s real estate industry, the
University of Florida’s Bergstrom Center for Real Estate Studies conducts a
quarterly survey of industry executives, market research economists, real
estate scholars and other experts. Private investors – both foreign and
domestic – are starting to “kick the tires” in many markets, said Timothy
Becker, the center’s director. In addition, investor expectation for returns
is starting to fall to more realistic levels, helping to close the spread
between bidding and asking prices, he said.
Posted: 11 February 2010
Source: Florida Association of Realtors
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