Florida’s Existing Condo Sales Rise in July 2010
Sales of existing condominiums in Florida rose 11 percent in
July compared to July 2009, according to the latest housing data
released by Florida Realtors®.
The statewide existing condo median sales price last month was a 20 percent
decrease on July 2009, according to the National Association of Realtors®
(NAR).
Meanwhile, in the year-to-year comparison for existing home sales,
single-family existing homes sold statewide last month showed a decrease of
14 percent compared to July 2009. Florida’s median existing-home sales price
in July decreased 7 percent from July 2009.
“A healthy housing market depends upon a healthy Florida economy, and in
particular, an improving labour market,” said Dr. Sean Snaith, director for
the University of Central Florida’s Institute for Economic Competitiveness.
“
Job growth and a declining unemployment rate will help sales
continue to grow while at the same time reducing the number of
foreclosures in Florida.”
More jobs continue to be key to the housing sector’s recovery, according to
NAR’s latest industry outlook. “
There could be a couple of
additional months of slow home-sales activity before picking up later in the
year, provided the job market continues to improve,” said NAR Chief
Economist Lawrence Yun.
Posted: 25 Aug 2010
Source: Florida Realtors
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