Industry News

Florida real estate sales rise 28%

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Sales of single-family existing homes in Florida remained at record levels during second quarter 2004 with a 28 percent increase in resale activity compared to the same time last year, according to the Florida Association of Realtors. Statewide, a total of 73,437 homes sold during the second quarter, which surpassed the volume from the same period in 2003 by more than 15,000 homes. The statewide median sales price for second quarter 2004 rose 18 percent to $181,800; a year ago, it was $153,600. In June, the national median price of an existing single-family home was $191,800 in the second quarter, up 9.6 percent from the previous year. The median is a typical market price where half of the units sold for more and half sold for less. Among the state's larger markets, the Orlando metropolitan statistical area (MSA) reported a 35 percent increase in resales during second quarter 2004 compared to last year, with a total of 11,081 homes changing hands compared to 8,181 homes a year ago. Th...