Florida Real Estate Inventory Down, Home Sales Up in 2012

Florida Real Estate Inventory Down, Home Sales Up in 2012Florida home sellers, for a change, are gaining some leverage in the market. The number of homes for sale in May was down 34 percent from a year ago, while the inventory of homes on the market has dwindled to a 5.5-month supply, down sharply from a near 10-month supply in May of 2011.

The result: Homes are selling 20 percent faster than a year ago, and sellers are getting closer to their asking prices.

Home sale prices rose to a median of $147,000, up 9 percent from a year ago and up 2 percent from April. A total of 18,723 single-family homes changed hands, up 7 percent from a year ago and up nearly 7 percent just from April.

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Authored By Jeff Harrington – See the Full Story at TampaBay.com

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