Existing home sales in the state of Florida rose by 1% last month in an annual comparison and 3% in a monthly comparison, according to Florida Realtors. The median home sales price in Florida dropped 9% to $134,000, making homes in sunny Florida more affordable than they have been in many years.

Condominium sales in Florida rose 22% to 5,706 units in a monthly comparison. The median sales price for condominiums in Florida dropped 24% to $81,600. Combine the low home prices with the incredibly low mortgage rates and you'll find the best time to purchase a Florida dream home is now.

According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery, however, given rock-bottom mortgage interest rates and historically high housing affordability conditions, the pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs.