Florida existing home, condo sales rise in February 2010
Florida’s existing home sales rose in February, which means that
sales activity has increased in the year-to-year comparison for the past
year and a half (18 months), according to the latest housing data
released by Florida Realtors®.
Existing home sales increased 21 percent last month compared to February
2009, according to Florida Realtors. Statewide existing home sales last
month increased 13.6 percent over statewide sales activity in January.
“Homebuyers should take advantage of favourable conditions in the current
housing market,” said 2010 Florida Realtors® President Wendell Davis.
NAR’s latest outlook predicts a surge in late spring home sales. “Activity
should be picking up strongly in late spring as buyers take advantage of the
tax credit, which is critical to absorb distressed properties reaching the
market and to continually chip away at inventory levels,” said NAR Chief
Economist Lawrence Yun. “If there is sufficient job creation, housing can
become self-sustaining with stable to modestly rising home prices.”
In Florida’s year-to-year comparison for condos, units sold statewide last
month compared to February 2009 showed an increase of 59 percent.
Posted: 23 March 2010
Source: Florida Association of Realtors
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