Industry News

Florida real estate market eases

Sales up a moderate 1% from last year; prices continue to rise

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The pace of Florida's housing market eased in November, with sales up only moderately from a year ago and prices continuing to rise, the Florida Association of Realtors reported today. Statewide sales of existing single-family homes totaled 17,219 in November, a 1 percent increase over last year's sales activity of 17,110 homes. The statewide median sales price rose 31 percent in November to $250,500; a year ago, it was $191,300. In November 2000, the statewide median sales price was $117,900, an increase of about 112 percent over the five-year period. The median is the midpoint, which is a typical market price where half of the homes sold for more and half for less. Housing markets nationwide are starting to see more of a balance between demand and supply, according to many housing industry analysts, placing home buyers and sellers on more even footing. The national median sales price for existing single-family homes was $216,200 in October, up 16.6 percent over last year, according ...