Industry News

Florida real estate makes gains

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Still low mortgage rates and the steadily improving economy boosted Florida's housing market to a strong start in 2004 with a 12 percent increase in single-family existing home sales in January, according to the Florida Association of Realtors. Statewide, sales of single-family existing homes totaled 12,520 last month compared to 11,161 homes sold a year ago. The statewide median sales price rose 15 percent to $168,100; a year ago, it was $146,500. In January 1999, the statewide median sales price for single-family homes was $102,100, which demonstrates a 64.6 percent gain over the five-year- period, according to FAR records. Florida's median sales price compares favorably to the national median sales price for existing single-family homes, which was $173,200 in December 2003, up 6.7 percent from the previous December. In California, the statewide median resales price was $404,520 in December; in North Carolina, the average resales price was $185,034; in Illinois, the median pric...