Florida’s existing home, condo sales rise in December 2008
Florida’s existing home sales rose in December, making it the fourth
consecutive month that sales activity demonstrated gains in the year-to-year
comparison, according to the latest housing data released by the Florida
Association of Realtors (FAR).
Existing home sales rose 27 percent last month with a total of 11,053 homes
sold statewide compared to 8,712 homes sold in December 2007, according to
FAR. December’s statewide existing home sales were 28.9 percent higher than
November’s statewide sales.
Florida Realtors also reported a 12 percent gain in statewide sales of
existing condominiums in December, marking the third recent month (following
September and October) for higher statewide existing home and existing condo
sales compared to year-ago levels. Statewide existing condo sales last month
increased 37.7 percent over the total units sold in November.
According to industry analysts with the National Association of Realtors
(NAR), there remains a significant downward distortion in the current median
price due to many discounted sales, including a large number of
foreclosures.
NAR’s latest housing outlook noted a trend of increasing activity in
Florida. “Sales are rising in areas with large numbers of distressed
properties as bargain hunters take advantage of discounted home prices,”
said NAR Chief Economist Lawrence Yun
Posted: 26 January 2009
Source: Florida Association of Realtors
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