I just got Florida's January home sales numbers & the statistics are very good:
January, 2009 had 8,450 closed transactions across Florida vs. 6,810 in January 2008 - This is a 24% increase in home sales over last year's numbers.
The downside is that the median sales price was down to $139,500 from $206,900, a 33% decline. This is primarily based on the huge amount of foreclosures & short sales as well as sellers having to slash their prices to sell their homes. The decline has to be expected due to the unreasonable levels prices got to during the 04, 05, 06 craziness.
It is painful for homeowners to see values continuing to drop, but it is a very good thing that sales are up so much - Buyers are out there cleaning up the excess inventory. As soon as the oversupply of homes is removed from the market home prices will stabilize - Good ol' supply & demand economics.
It's great to see some good news out there!!
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