From Florida Realtors
Florida’s existing home sales rose in January, marking 17 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors.
Home and condo sales were up in the Jacksonville area, though prices remained below the previous year’s level.
Existing home sales statewide increased 24 percent and Jacksonville’s numbers were up 33 percent. State condo sales jumped 81 percent; Jacksonville’s increased 113 percent.
Florida’s median sales price for existing homes had a 6 percent decrease, a point less that the Jacksonville area. Condo prices dropped 14 percent statewide, 27 percent in Jacksonville.
Interest rates for a 30-year fixed-rate mortgage averaged 5.03 percent, slightly lower than the average rate of 5.05 percent in January 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
The national median sales price for existing single-family homes in December 2009 was $177,500, up 1.4 percent from a year earlier, according to NAR. In California, the statewide median resales price was $306,820 in December; in Massachusetts, it was $305,000; in Maryland, it was $244,820; and in New York, it was $222,000.
According to NAR’s latest outlook, homebuyers are taking advantage of the federal tax credit. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices,” said NAR Chief Economist Lawrence Yun.
