Florida’s existing home and existing condo sales continued its positive upswing in November, according to the latest housing data released by Florida Realtors. The Jacksonville area report was positive, too.
The state’s existing home sales increased 11 percent with a total of 12,993 homes sold statewide compared to 11,664 homes sold in November 2010, and the local number was better: a plus 17 percent in sales.
In the year-to-year comparison for condos, 5,590 units sold statewide in November, a 2 percent gain over the 5,464 units sold in November 2010. The Jacksonville numbers mirrored that with an equal increase.
“It’s really clear that two things are happening in Florida real estate,” said Florida Realtors Chief Economist Dr. John Tuccillo. “No. 1, sales are moving upward – not by a large increase, but definitely, positively on an upward trend. Second, prices are stabilizing. Now, it doesn’t mean that prices have turned around but they are stabilizing, and that’s vital for the market to gain equilibrium.
“The more important factor is that sales are increasing and in large part, that’s due to lenders becoming more educated on how to deal with distressed properties more effectively and in a more timely manner – and that’s helping the Florida real estate markets recover.”