Florida existing home, condo sales rise in March 2010
Florida’s existing home sales rose in March, which means that sales activity
has increased in the year-to-year comparison for 19 months, according to the
latest housing data released by Florida Realtors®.
Existing home sales increased 24 percent last month compared to March 2009,
according to Florida Realtors. Statewide existing home sales last month
increased 37 percent over statewide sales activity in February. Also
noteworthy: March’s statewide existing-home median price was 4.3 percent
higher than February.
Florida Realtors also reported a 63 percent increase in statewide sales of
existing condos in March compared to the previous year’s sales figure;
statewide existing condo sales last month rose 40.6 percent over the total
units sold in February. March’s statewide existing-condo median price was
5.1 percent higher than February.
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.
NAR’s latest outlook anticipates a rise in home sales in late spring. Increased pending sales is a positive sign
for home prices, which are continuing to stabilize, according to NAR Chief
Economist Lawrence Yun.
Posted: 2 April 2010
Source: Florida Association of Realtors
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