State wide home sales are back to normal levels, says the Florida Association of Realtors®.
- 12,607 homes were sold in May and were more in line with activity in May 2002 - prior to the housing boom years
- The median home price is at 237,000 while in May of 2002 the price was at 137,000 for a 72.9% increase.
It looks like while the boom is over, local markets, including central Florida real estate, are back to normal.
All the doom and gloom the media has poured onto the public never materialized!!
It is true subprime markets are in turmoil, but those were highly speculatiuve loans anyway, right?
For the most part, the "real estate bust" never occured, just as many said long ago...the air went out of the market slowly.
It should be back business as usual now!!
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