Florida Home Sales Increase in July for 11th Straight Month; Condo Sales Increase By 48%

Florida’s existing home sales rose in July – the 11th month in a row that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors (FAR). Statewide existing home sales in July also rose over the previous month’s sales level (MP: The sixth straight month-t0-month increase).

Existing home sales rose 37% last month with a total of 15,882 homes sold statewide compared to 11,595 homes sold in July 2008, according to FAR (see chart above). Statewide existing home sales in July increased 0.2% over June’s statewide activity. Florida Realtors also reported a 48% rise in statewide sales of existing condos in July.

Florida’s median sales price for existing homes last month was $147,600; a year ago, it was $193,800 for a 24 percent decrease (see chart above). In Florida’s year-to-year comparison for condos, 5,035 units sold statewide compared to 3,396 units in July 2008 for a 48% increase. The statewide existing condo median sales price last month was $108,300; in July 2008 it was $168,700 for a 36% decrease.

MP: Six consecutive month-to-month increases in Florida home sales, 11 straight months of year-t0-year sales increases, and a 48% increase in condo sales. If this isn't a true, solid recovery in the Florida real estate market, how would a real recovery be different?

Originally posted at Carpe Diem.