The Florida Association of Realtors is reporting that home sales in Florida increased in December 2008. 11,053 homes were sold, which was an increase of 27%, over December 2007 at 8,712 homes sold statewide. December was the fourth month in a row that the number of homes sold increased.
In December 2007 median sales prices on existing homes was $213,600. In December 2008 the figure dropped to $155,500, a 27% decrease. This is positive news for homes buyers in the market. In addition, mortgage interest rates have dropped from 2007 to 2008. Last month they were approximately 5.29%. A year earlier they averaged approximately 6.10%. That variation in interest rate allows a buyer to purchase more home with their money, than last year.
A total of 124,215 homes sold in Florida in 2008 compared to 129,855 in 2007. This reflected a 4% drop from 2007 to 2008.
Home sales activity has been increasing across Florida, Arizona, Nevada and California; in areas with the largest numbers of short sales and foreclosures. First time home buyers, investors and buyers shopping for second homes or vacation homes appear to be making up the bulk of Florida purchasers today.
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Congrats on increasing sales....that is what we all need! I hope the trend continues....
Sandy, the background I read on this today was that there were so many good foreclosure deals in Florida it translated to an increase in sales for December. Good news if more of that category of inventory clears out.
Sandy: With so many good deals in FL and the fabulous weather its no wonder sales are on the rebound....Kelly
Good post, Sandy, and I gotta wonder if Florida sellers think that more sales at so much less money is a good market.
Sandy, This is why I read marketing reports. I was waiting to see good news and what better place than in your own back yard...
Hi Sandy, This is positive news for buyers, and investors. I'm glad things are moving in Florida! Great post, and I love your photo.
Hi Sandy
Great photo and great color you can almost feel the heat of the sun.
Good luck and success
Lou Ludwig
Pat, I also hope this trend continues.
Gary, Yes, we are seeing buyers scooping up the foreclosure deals.
Kelly, Absolutely - great reasons to come to Florida.
Patricia, Well, I'm not sure the sellers think that it is a good market. But, buyers are out buying.
Hi Paul, This is good news for us. And I know you enjoy the marketing reports.
Hi Mary, Great news for buyers and investors.
Hi Lou, I took this picture less than 5 minutes from my home. Beautiful, isn't it?