The Latest on Florida Sales Figures
Just out from Realtor.org, the magazine for Realtors, is this headline, "Sales Inch Up for Florida Real Estate."
Using the Florida Assn. of Realtors as the source, they state, "Sales of existing single-family homes in Florida rose 13 percent in the fourth quarter of 2008, compared to the fourth quarter of 2007, according to the Florida Association of REALTORS®.
This is the second consecutive quarter that Florida has reported higher existing home sales. Sales were up 5 percent in the third quarter compared to the previous year.
Twelve Florida metropolitan statistical areas (MSAs) reported increases, as well as a growing number of smaller markets.
Lower price is one reason why sales are up. The statewide existing-home median sales price was $161,200 in the fourth quarter; a year earlier, it was $216,600--for a decrease of 26 percent.
But low lending rates have an impact as well. Holding mortgage rates to less than 5 percent will encourage more buyers and significantly stabilize the market, predicts Wayne Archer, director of University of Florida's Bergstrom Center for Real Estate Studies."
Read the whole article at Realtor.Org.
Investors - it's a great time to BUY BUY! 2-bedroom condos for $50,000, 3-bedroom homes near the beach for under $125,000 - can't you just envision the market going back up and leaving the prices behind?
Contact me to discuss the opportunities.
Sherry Armstrong, REALTOR
www.sherryarmstrong.com
sherry@sherryarmstrong.com
386-679-3191