Our Florida Realtors Assn reports that sales of existing homes in the state rose 15% in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison. A total of 18,038 single-family existing homes sold statewide last month compared to 15,732 homes sold in June 2009.
June's statewide existing home sales increased 7.7% over statewide sales activity in May. Meanwhile, last month's statewide existing-home median price of $143,400 was 2.1% higher than May's statewide existing-home median price of $140,400. It marks the fourth month in a row that the statewide existing-home median price has increased over the previous month's median.
Florida's median sales price for existing homes last month was $143,400; a year ago, it was $147,700 for a decrease of 3 percent. The median is the midpoint; half the homes sold for more, half for less.
More jobs are key to the continued recovery of the housing market, according to NAR's latest industry outlook. "If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions," said NAR Chief Economist Lawrence Yun. "We'll also keep a close eye on market conditions on the Gulf Coast."
In Florida's year-to-year comparison for condos, 6,916 units sold statewide last month compared to 5,215 units in June 2009 for an increase of 33%. The statewide existing condo median sales price last month was $95,000; in June 2009 it was $112,800 for a 16 percent decrease. The national median existing condo price was $181,300 in May, according to NAR.
(resource: RealEstateChannel.com)
Sales are rising but prices have not started up yet, so there are some really good buys now in our Daytona Beach area. With the rates so low, you should at least take a look. Call or email me for some ideas.
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