Sales of existing homes in Florida rose for the 22nd consecutive month in June, a sign that this beleaguered housing market may be stabilizing.
According to Florida Realtors, sales were up 15% for the month, with a total of 18,038 houses and apartments changing hands vs. 15,732 in June 2009. June's sales were also up 7.7% from May.
Fifteen of the Sunshine State's metropolitan statistical areas reported improved single-family house sales and 16 posted better condominium sales, the Realtor association said.
A majority of the state's larger markets have been experiencing increased sales for 24 consecutive months. The Tampa-St. Petersburg-Clearwater MSA reported the most sales. A total of 3,226 homes sold in June in Tampa-St. Pete compared to 2,848 homes a year earlier, a 13% gain. Orlando had the second largest number of sales, 2,752 vs. 2,266 a year ago, a 21% jump.
The median price of the units sold state-wide in June was $143,400, up 2.1% from May's median of $140,000. It was the fourth month in a row the median has increased month-to-month. Florida Realtors' sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
In comparison to other states, Florida is still relatively inexpensive. In California, according to the National Association of Realtors, the median resale price was $324,430 in May. In Massachusetts, it was $299,000; in Maryland, it was $249,177, and in New York, it was $194,900.
The national median in May was $179,400, NAR reported.
