Florida Housing Market Improved in August

Florida Housing Market Improved in AugustFlorida’s housing market had more closed sales, more pending sales, higher median prices and a reduced inventory of homes for sale in August, according to the latest housing data released by Florida Realtors(R).

“Florida’s housing marketing continues its momentum,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Buyers who have been waiting on the sidelines should see this as a sign to jump in before the market escapes them again. Sellers who have been hesitant to sell should put their homes on the market now. Chances are they will entertain multiple offers and be able to take advantage of historically low interest rates to buy their next home. Now our biggest challenge will be appraisals keeping up with the pace of this market.”

Statewide closed sales of existing single-family homes totaled 18,669 in August, up 10.8 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.

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