Florida’s existing home, condo sales up in August
Sales of existing homes in Florida rose 1 percent in August, compared to
August 2009, according to the latest housing data released by Florida
Realtors®. Statewide existing home sales in August increased 3 percent over
statewide sales activity in July.
Florida’s median sales price for existing homes last month compared to a
year ago showed a decrease of 9 percent.
In Florida’s year-to-year comparison for condos, units sold statewide last
month compared to August 2009 showed an increase of 22 percent. Statewide
existing condo sales last month increased almost 2.7 percent over July’s
condo sales. The statewide existing condo median sales price in August
compared to August 2009 showed a 24 percent decrease.
The housing sector faces a long recovery process, due in part to slow job
growth and the still-fragile economy, according to NAR’s latest industry
outlook. “Home sales will remain soft in the months ahead, but improved
affordability conditions should help with a recovery,” said NAR Chief
Economist Lawrence Yun. “The pace of a sales recovery could pick up quickly,
provided the economy consistently adds jobs,” he said.
Posted: 23 September 2010
Source: Florida Association of Realtors
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