Existing Home Sales in Florida on the Rise
June 22, 2010
Author: Support Services, e-PRO
May marked the 21st consecutivemonth that sales of existing homes in Florida showed an incline, according to Florida Realtors. Increasing 18%, this type of sales activity is a positive sign for the real estate market in Florida.
In a yearly comparison, the median sales price of existing homes, across the state, has declined by only 2% to $140,400. Nationally, the median sales price stands at $173,000, which is to say that half of the homes for sale are selling for less than $173,000 and half are selling for more.
Mortgage rates came in at 4.75%, according to mortgage giant Freddie Mac, which is up from 4.72% the week before, but still very attractive to potential homebuyers or those looking to refinance.
This is a great time to buy! Home prices are still low and mortgage rates are hovering at or around 5%.