Friday, July 23, 2010

FL Home Sales Increase 22nd Month Year-to-Year, Median Prices Up for Fourth Straight Month

ORLANDO, FL -– Sales of existing homes in Florida rose in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released yesterday by the Florida Realtors.  Other highlights of the report include:

1. A total of 18,038 single-family existing homes sold statewide last month compared to 15,732 homes last year (see chart above). 

2. June’s statewide existing home sales increased 7.7% over statewide sales activity in May of 16,748 homes.

3. June's statewide existing-home median price of $143,400 was 2.1% higher than May’s statewide existing-home median price of $140,400, marking the fourth consecutive month that Florida's median home price has increased over the previous month.

MP: This almost seems like there might actually be something resembling a real estate recovery going on in Florida - 22 straight months of sales gains, and four consecutive months of increasing median home prices?

3 Comments:

At 7/23/2010 11:39 AM, Blogger Dr William J McKibbin said...

Yes, but sales of existing homes declined in June in the US...

 
At 7/23/2010 12:46 PM, Blogger VangelV said...

The figures still include gains made due to the the $8,000 first time homebuyer tax credit. The low mortgage rates, which were driven by the Fed's purchases of MBS paper, also made it possible to attract buyers into the market. When adjusted in historic terms housing inventories remain extremely high and new supply is on its way as more adjustable rate mortgages reset later this year and in 2011.

Pending sales have collapsed and the number of people behind by 90% on their mortgage payments is growing rapidly. There is no recovery. All we see is the calm before the storm.

 
At 7/23/2010 12:53 PM, Blogger Bill said...

I love to read the comments of the pessimists on this site. Dont buy now when real estate is the cheapest it has been in generations. Wait for the next leg down, pessimistas! Buy highly inflated, shiny, pretty gold instead! Good luck with that.

"the number of people behind by 90% on their mortgage payments"

What does this even mean?

 

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