Industry News

Florida home sales dive, prices follow

Large metro areas see greatest losses

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Florida's resale real estate market cooled further in October, as single-family home sales tumbled for the 11th straight month and prices in many major markets declined, the Florida Association of Realtors reported. A total of 12,773 existing single-family homes sold statewide last month, down 22 percent from the 16,407 homes sold a year ago. The overall existing-home median price last month of $242,500 was down 0.4 percent from $243,400 a year ago. For resale condos, sales statewide registered 3,440 in October, down 31 percent from the 5,001 sales in October 2005. The statewide median sales price for condos fell to $209,200 last month, off 2 percent from $213,600 a year earlier. Among the state's larger markets, the Fort Lauderdale metropolitan statistical area (MSA) reported 591 existing homes sold last month, up 5 percent from 561 homes sold a year ago. The market's median existing-home price decreased 5 percent during the period, falling from $368,900 to $349,400. A total of 580 ...