Statewide, home sales in Florida showed positive momentum in the month of October. 143,398 single-family existing homes sold for a 7 percent increase over the same period a year ago. The latest housing data released shows a 33 percent rise in statewide year-to-date condominium sales compared to a year ago. Still, there are several factors that are slowing the housing market’s recovery in Florida, including the recent foreclosure moratorium. Florida’s median existing-home sales price in October was $136,600; a year earlier, it was $140,900 for a 3 percent decrease. In October, the interest rate for a 30-year fixed-rate mortgage averaged 4.23 percent, significantly lower than the 4.95 percent average during the same month a year earlier. The message here: it remains a great time to buy in the FL market, if you are in a position to do so. Visit theBESTeam.com for a full list of bank foreclosure properties in Palm Beach County
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