Florida Existing Home Sales Flatten

Prices, however, continue rising.

Florida’s housing market continued to report a tight supply of homes for sale and rising median prices in February, according to the latest housing data released by Florida Realtors®.

Sales of single-family homes statewide remained relatively flat last month, totaling 18,033, down 0.5% compared to February 2016.

“Florida’s economy is growing, with more jobs being created,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “And a growing economy boosts the state’s housing sector as well. However, many local markets are reporting low inventory of for-sale homes at a time of increasing buyer demand.”

The statewide median sales price for single-family existing homes last month was $225,000, up 12.5% from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in February was $167,500, up 11.7% over the year-ago figure. February marked the 63rd month in a row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

via Builder Magazine

http://www.ForeSiteResidential.com

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