Florida, one of the hardest-hit U.S. states for real estate sales, seems to be starting an industry recovery, according to Florida Realtors. December 2009 was the 16th consecutive month of increased sales activity.
Last month existing single family home sales rose 33 percent, with a total of 14,630 homes sold – an increase of 3000+ from December 2008. Condo sales did even better, increasing a whopping 91 percent YOY.
The downside of the story, however, is that homes sold for less, with a median price of $140,400. In 2008 that figure was $155,300. Foreclosures and other distressed properties are behind the drop, according to the National Association of Realtors (NAR.) interest rates are down as well, with a 4.93 percent average for a 30-year fixed mortgage. The December 2008 average was 5.29 percent.
Here’s the original RISMedia report.