Florida Resales Decline 24%

Sales of existing single-family homes in Florida totaled 11,674 in July, a decrease of 24% from the level recorded a year earlier, according to the Florida Association of Realtors.The median sales price of homes sold in July declined to $237,500, down 5% from $250,400 in July 2006, FAR reported. Among the state's larger markets, resales decreased 35% in the Orlando metropolitan statistical area and 25% in the Miami MSA, while median resale prices fell to $258,000 in Orlando, down 3% from $266,800 a year earlier, and to $377,400 in Miami, down 1% from $382,200 a year earlier.