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State News

July Home Sales On The Rise

Florida’s housing market is growing stronger. A recent report released by the Florida Realtors show the sales of existing homes is up by almost 10-percent in July compared to a year ago.

Florida Realtors President Summer Greene says she’s seeing a trend across the state indicating the housing market has not only stabilized, but it’s also gaining ground. She says home prices are rising in many markets even with 33-percent drop in homes up for sale in July from a year ago. She says that means the demand is growing.

“People are getting off the sidelines and they’re recognizing that ‘hey, if I don’t buy a home now, I’m missing out! Interests are going to start creeping out, I won’t be able to take advantage of the historically low interests rates, and the prices are going to bump on me,’" remarked Greene. "So, that’s also driving more people into the market to purchase a home.”

Greene says the report also finds improvements in the median sales price of $148,000, which is up about 8-percent from a year ago.