Industry News

Florida home sales drop 29%

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Existing-home sales in Florida fell 29 percent in June from the year-ago level, as overall home-price growth slowed to a more normal level, according to an industry report released today. A total of 18,089 existing single-family homes sold statewide last month, down from 25,552 homes sold during the previous June, the Florida Association of Realtors reported. Statewide, the existing-home median price rose 3 percent to $257,800 last month, up from $249,800 a year ago. The median is a typical market price where half the homes sold for more and half sold for less. Sales of existing condos decreased by 35 percent in June, with a total of 5,241 condos sold statewide, down from 8,109 in June 2005, according to FAR. The statewide median sales price for condos slipped last month to $212,500 from $215,700 a year ago. Among the state's larger markets, the Orlando metropolitan statistical area (MSA) reported 2,800 existing homes sold last month, down 21 percent compared with 3,553 homes sold in...