Florida home sales jump 10%
Thursday, May 9, 2013 / By John Hielscher, Herald Tribune
Closed sales of existing single-family homes rose 10.2 percent statewide in the first quarter of 2013 over the comparable period last year, Florida Realtors reported today.
The trade group said the state’s housing market showed strength with more pending sales, higher median prices and a reduced supply of homes for sale.
“More people went back to work as more jobs were created in Florida during the first quarter, and our population is also growing — which provide a solid foundation for growth in the housing market,” said Florida Realtors president Dean Asher, an Orlando broker. “It’s taking less time to sell a home and, coupled with tight inventory, that shows buyers are eager to lock in historically low mortgage interest rates and take advantage of favorable, but rising prices.”
Realtors sold 48,976 existing single-family homes in the first quarter. Pending sales — contracts that are signed but not yet closed — rose 26.8 percent. The statewide median sales price was $153,000, up 13.4 percent from a year ago.
Condo-townhouse sales totaled 24,655 units, up 3.2 percent. Pending sales rose 13.7 percent. The median sales price was $116,000, 18.4 percent higher than last year. The inventory for single-family homes stood at a 5.3-months supply, down from 5.8 months a year ago.