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Beaming Existing-Home Sales for the Sunshine State

by admin

Existing-home/condo sales were up in Florida for August, a very uplifting sign that the state could be emerging from the downturn.

According to new data from Florida Realtors, existing-home sales in Florida increased 15 percent in August from a year ago, and existing-condo sales did even better, posting a 17 percent increase from August 2010.

Year-over-year prices also increased for both housing types. Home prices are up 2 percent, and condo prices are up 12 percent.

Patricia Fitzgerald, the president of Florida Realtors, said the increases in sales reflect a number of positive developments in Florida housing.

“Over the past few months, it appears that home prices have been stabilizing in many local markets across the state,” Fitzgerald said. “This is another positive sign that the housing recovery is gaining strength.”

In total, 15 of Florida’s metropolitan areas increase their home sales. The positive data is reflective of national increases in home sales, according to data from the National Association of Realtors. In the NAR’s latest report, existing-home sales were up 7.7 percent from July and 18.6 percent from August 2010, and sales in the Southern district, which includes Florida, were up 5.4 percent for the month and 16.9 percent from last year.

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