Home sales in Florida are up over 10% in February compared with the same month in 2012, Florida Realtors reported. Pending sales are up nearly 27% for the same periods.
But what is not good news for mortgage originators is that half of existing single-family home sales and more than three-quarters of the condo sales in the state are for cash, said John Tuccillo, the organization’s chief economist.
This makes
“Properties are selling quickly statewide, especially at certain price points; the median days a home is on the market dropped about 15% for single family homes and 10% for townhouse-condominium units in February, said organization president Dean Asher, a broker-owner based in Orlando.
The median sales price was $150,000, up 13% from February 2012.
Tuccillo added “the lowest price tiers (for home listings) are just about wiped out and are moving in a direction counter to the state trend (of new listings coming on). The biggest movements in listings as well as in the other metrics are in the $300,000 to $500,000 price tier.”
