The Florida Assn. of Realtors has announced that existing home sales rose in October, marking 14 months that sales activity has increased in their year-to-year comparison. October's statewide sales also increased over sales activity in September in both the home and condominium resale markets.
Existing home sales rose 45 percent last month with a total of 15,160 homes sold statewide compared to 10,444 homes sold in October 2008. Statewide existing home sales last month increased 5.1 percent over statewide sales activity in September. Condo sales rose 82 percent in statewide sales in October compared to the previous year's sales figure; statewide existing condo sales last month rose 6.1 percent over the total units sold in September. For condos, 5,398 units sold statewide last month compared to 2,958 units in October 2008.
For the Daytona Beach area, single family homes, there were 729 Realtor sales in October, 2009 compared to 480 last year, up 52%. Median sales price was $124,400 vs. $157,400 in October, 2008.
There were 134 condo sales in October, 2009, vs. 65 in October, 2008, up 106%. Median price this October was $148,900 vs. $188,500 last year.
According to NAR's latest industry outlook, the housing market is continuing its positive momentum. "We're getting early indications of price stabilization, but we need a steady supply of qualified buyers to meaningfully bring inventories down and return us to a period of normal, steady price growth," said NAR Chief Economist Lawrence Yun. "That, in turn, would help fully remove consumer fears, which would then revive the broader economy."
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