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Hot Market: Revisit Florida For Hot Market In 2009

While all the cameras are pointed toward the White House for how the new administration will solve the housing crisis -- the market has decided to not wait for bail out money and move forward across the whole state of Florida.

 A report in the Orlando Business Journal points out sales are headed upward in the Sunshine State. "Statewide, sales of existing, single-family homes were up 13 percent in the fourth quarter, compared to the same period a year prior, according to the latest statistics from the Florida Association of Realtors. It marks the second consecutive quarter that the Sunshine State has reported a rise in home sales."

The FAR President Cynthia Shelton says consumers are picking up good deals. "Many people are looking at today's market and seeing opportunities to find the home or business they've always wanted."

The fourth quarter showed extraordinary signs of strength, with more than 30,000 existing homes selling statewide, up from 26,635 existing homes sold during the same quarter in the previous year a 13 percent jump.

For January, sales of existing homes were up 24 percent statewide, raising hopes that the bottom was hit and sustained recovery is on its way. The Business Journal reported "Only six of the 20 metropolitan areas covered by FAR saw declines with sales going up 24 percent statewide to 8,450 units. Median sales prices fell to $138,500 across Florida, down 33 percent from the $206,900 median price a year before."

Published: March 13, 2009

http://realtytimes.com/rtpages/20090313_hotmarket.htm