Florida Existing Homes Sales Up —- Again
March 29, 2009, Writen by: Chris Anderson, Ph.D
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There is a interesting trend starting to develop in Florida with existing homes sales now up for 6 straight months on a year over year basis.
Existing home sales rose 20 percent last month, with a total of 9,858 homes sold statewide compared to 8,181 homes sold in February 2008, according to FAR. February’s statewide existing home sales were 16.7 percent higher than January’s statewide sales.
You have to realize thought that many, many of these sales are coming from discounted sales. According to the Florida Association of Realtors,
Florida’s median sales price for existing homes last month was $141,900; a year ago, it was $199,300 for a 29 percent decrease. Industry analysts with the National Association of Realtors® (NAR) report a significant downward distortion in the current median price due to many discounted sales, including a large number of foreclosures.
From our perspective however, anything that reduces total inventory on the market is definitely a good sign.
Click this LINK to get a good chart of how each of the Metropolitan Statistical Areas (MSAs) did across the state.
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