• 
  Like
• 
  Follow

Search news    

---

Florida real estate agents report increased sales in February

March 23, 2010 - Despite nationwide declines, the latest data from Florida Realtors indicates that existing home sales across the state grew in February.

Sales of previously owned houses increased by 21 percent across the state last month, which showed a 13.6 percent increase over January, according to the data. Condominium sales reported similar results, as they increased by 59 percent over February 2009 and 9.8 percent over last month.

The average price of a single-family home in the state has also dropped nearly $10,000 since this time last year, which may have contributed to the great rush to buy last month. The median cost of an existing home in Florida is also more than $30,000 less than that national average.

In addition, mortgage rates remain at historic lows, and the Federal Housing Tax Credit is slated to expire next month.

Wendell Davis, president of Florida Realtors, said that prospective buyers should "take advantage of favorable conditions in the current housing market" before they change during economic recovery.

The Federal Housing Tax Credit could be worth up to $6,500 for repeat homebuyers, according to the National Association of Homebuilders.

Recent Articles

Related Categories