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Florida’s housing market is recovering, actually for some time now. As one of the hardest-hit metros during the housing crisis, it also enjoys one of the strongest comebacks during the recovery. “Home sales continue to increase, it’s taking less time for sales to close, and median sales prices are on the rise,” said 2013 Florida Realtors President Dean Asher. “This is the 17th month in a row that we’ve seen the statewide median sales prices increase year-over-year for both single-family homes and for townhome-condo properties.” As Florida residents begin to see the momentum in the Florida market, more sellers are deciding to list their property for sale. Statewide, new listings for single-family homes rose 10.2% in May, while new townhome-condo listings increased 7.1%. Closed sales of existing single-family homes equaled 22,375 in May, an 18.7% increase year-over-year. Pending sales for existing single-family homes increased 30.8% year-over-year in May, an indicator that the tight inventory crunch is soon to lessen. [Read this article]
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