Florida’s existing home, condo sales up in 1Q 2010
Sales of existing single-family homes in Florida rose 24 percent in first
quarter 2010 compared to the same period a year earlier, according to the
latest housing statistics from Florida Realtors®. A total of 38,846 existing
homes sold statewide in 1Q 2010; during the same period the year before, a
total of 31,410 existing homes sold. It marks the seventh consecutive
quarter that Florida has seen higher existing year-to-year home sales.
Statewide sales of existing condominiums in the first quarter rose 67
percent compared to the same time the previous year. This marks the sixth
consecutive quarter for increased statewide sales in both the existing home
and condo markets compared to year-ago levels.
"The first quarter data release from the Florida Realtors paints a picture
of a housing market continuing down the long road to recovery," said Dr.
Sean Snaith, director for the University of Central Florida's Institute for
Economic Competitiveness. "Transactions in the single family market have
extended quarterly year-over-year gains for nearly two years, and condo
sales have also risen sharply."
The University of Florida's Bergstrom Center for Real Estate Studies' latest
quarterly survey of real estate trends also notes positive signs of recovery
in the state's real estate industry. The survey polls market research
economists, industry executives, real estate scholars and other experts.
"
Results indicate that the real estate market in Florida has hit bottom and
is in the process of stabilizing across most property types," said Timothy
Becker, the center's director. Private capital – both foreign and domestic –
continues to enter the state in search of quality investment deals, he
added.
Posted: 11 May 2010
Source: Florida Association of Realtors
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