Industry News

Florida Realtors report 31% drop in Q4 resale home sales

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The median sales price of single-family resale homes in Florida fell 9.9 percent in the fourth quarter compared to the same quarter in the previous year, the Florida Association of Realtors reported, and sales fell 31 percent. Every metro area tracked by the Realtor group in the fourth-quarter report had a year-over-year drop in sales and in the median price of single-family resale homes. The median price of resale homes was $216,000 in the fourth quarter, compared to $239,800 in fourth-quarter 2006. There were 26,130 sales in the fourth quarter compared to 37,879 sales in fourth-quarter 2006. Sales of single-family resale homes slipped 57 percent year-over-year in fourth-quarter 2007 in the Lakeland-Winter Haven metro area, and dropped 52 percent in the Ocala area, 47 percent in the Miami area and 36 percent in the Orlando area. Sales dropped the least in the Fort Walton Beach metro area, falling 2 percent in fourth-quarter 2007 compared to the previous year's quarter. All of the othe...