Florida Home Sales Increase for 8th Straight Month
ORLANDO, Fla. – May 27, 2009 – Florida’s existing home sales rose in April – the eighth consecutive month that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). April’s statewide sales showed gains over the previous month’s sales level in both the existing home and existing condominium markets. Existing home sales rose 18% last month with a total of 13,111 homes sold statewide compared to 11,133 homes sold in April 2008, according to FAR. April’s statewide existing home sales were slightly higher than statewide activity in March. Florida’s median sales price for existing homes last month was $138,500; a year ago, it was $199,500 for a 31% decrease (see chart above).
7 Comments:
You succeed in proving that the law of demand works; housing recovery . . . not! Simple math: the total volume of sales (price times units sold) is still running 13% under last year. The screaming headline is, at best wishful thinking; at worst, simply misleading.
This story is a must readNot many schools in California recruit teachers with language like this: "We are looking for hard working people who believe in free market capitalism. . . . Multi-cultural specialists, ultra liberal zealots, and college-tainted oppression liberators need not apply."...That, it turns out, is just the beginning of the ways in which American Indian Public Charter and its two sibling schools spit in the eye of mainstream education. These small, no-frills, independent public schools in the hard-scrabble flats of Oakland sometimes seem like creations of television's "Colbert Report." They mock liberal orthodoxy with such zeal that it can seem like a parody....School administrators take pride in their record of frequently firing teachers they consider to be underperforming. Unions are embraced with the same warmth accorded "self-esteem experts, panhandlers, drug dealers and those snapping turtles who refuse to put forth their best effort," to quote the school's website....It would be easy to dismiss American Indian as one of the nuttier offshoots of the fast-growing charter school movement, which allows schools to receive public funding but operate outside of day-to-day district oversight. But the schools command attention for one very simple reason: By standard measures, they are among the very best in California.L.A. Times
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The difference now is that in Florida many of the buyers are CASH buyers who do not have to qualify for mortgages. The "marginal" buyers have essentially been forced out of the market because they can no longer qualify for a mortgage. For sales to be ONLY 13% below last year (gusto's calc) is a positive sign. We can debate whether the recovery is "real" or not.. but down the road these current buyers will be selling at a profit to those who were "waiting for the bottom." Yes, the free markets are working.
Can you say "price correction"?
I knew ya could....
> But the schools command attention for one very simple reason: By standard measures, they are among the very best in California.
So, clearly they are the prime target for being shut down by the Cali chapter of the NEA, is what you're saying.
> Simple math: the total volume of sales (price times units sold) is still running 13% under last year.
Hey, gusto:
In 2005, I sold 10 electric generators for 10 times their usual price, thanks to the hurricanes.
Since then, not a one at anywhere near that price.
Dang. The market still hasn't recovered!
:-/
You==Idiot.
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