Industry News

Slowdown hits East Coast real estate

Sales in Florida, Massachusetts tumble

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Home sales across Florida and Massachusetts dropped in February from their year-ago levels, according to Realtor associations in both states, while home prices posted mixed results. In Florida, sales of single-family existing homes totaled 13,539 in February, down 20 percent from 16,916 homes a year ago, according to the Florida Association of Realtors. The statewide median price for single-family existing homes last month was $244,200, up 24 percent from the February 2005 statewide median of $197,700. The median is a typical market price where half the homes sold for more, half for less. Sales of existing condominiums in Florida also decreased last month, with a total of 4,342 condos sold statewide, compared with 5,643 in February 2005, for a 23 percent decline, according to FAR. The statewide median sales price for condos rose 11 percent to $218,700 last month; a year ago, it was $197,000. Among the state's larger markets, the Jacksonville Metropolitan Statistical Area (MSA) report...