Florida Realtors confident in rising house prices, home sales
The housing crash left Florida riddled with real estate issues, but realtors in the Southeast state are growing more confident with new June listings down 3% from last year and pending single-family home sales up 31%, the Florida Realtors said.
In June, the association noted 26,062 new real estate listings, down from 26,868 a year earlier.
Meanwhile, pending home sales rose from 18,098 last June to 23,709 in the most recent report. Closed sales in Florida also grew 5.3% from 17,861 in June 2011 to 18,800 in the latest report.
The median sales price for detached homes in June increased 8.2% over year earlier levels to $151,000. For attached properties, the median price rose 15.8% to $110,000.
Single-family and townhome inventory levels also plummeted 39.8%, creating more competition for remaining homes on the market.
"We’re halfway through 2012, and what a year it’s been," Florida Realtors wrote in a June market report. "Residential real estate has finally taken some meaningful strides toward recovery, and they’ve all been self-powered without divine (or governmental) intervention. Yes, there have been some head fakes in the past, but there's real reason to believe that market turnaround awaits us."
Another telltale sign of a strengthening real estate market is the fact that Florida homes are now spending 60 days on the market, down from 78 days a year earlier.
The overall inventory of homes for sale also declined 31.1% from 163,118 homes in June of last year to 112,365 in the latest report.