Florida Resale Rise First in Over 2 Years

Sales of existing single-family homes in Florida totaled 11,498 in July, marking the first time in more than two years that resales have risen in Florida on a year-over-year basis, according to the Florida Association of Realtors. The increase was slight -- only six more than the 11,492 recorded in July 2007 -- but FAR said it "could indicate stabilization in Florida's housing sector." The median sales price of homes sold in July stood at $193,600, down 19% from $238,900 a year earlier, FAR reported. Among the state's larger markets, resales decreased 22% in the Miami metropolitan statistical area and 16% in the Orlando MSA, while median resale prices fell to $230,700 in Miami, down 19% from $285,800 a year earlier, and to $121,900 in Orlando, down 17% from $147,700 a year earlier. FAR can be found online at http://media.living.net.