Industry News

Florida home sales plummet in August

Buyers apparently waiting for sellers to lower prices

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August home sales in Florida were off 34 percent in August compared to last year, while the median sale price remained unchanged at $248,400 -- suggesting that buyers were waiting for sellers to lower prices, and sellers weren't budging. The Florida Association of Realtors said many markets reported higher inventory levels and a slowing pace of sales as buyers weighed more options. Some 14,736 single-family homes sold statewide in August, down from 22,421 in the same month last year.  Sales of existing condos were down 41 percent, with 4,375 sales in August compared with 7,398 a year ago. The median price for condos was also stable, falling 2 percent from last August to $201,300. Although the median sales price for single-family homes was unchanged statewide, prices were still headed up in some local markets, while others saw precipitous declines. Areas seeing home prices appreciate included Ocala (14 percent), Gainesville (13 percent), Tampa-St. Petersburg-Clearwate...