Florida’s housing market continues growing

 Florida’s housing market continues growing with increases in  closings, listings, contracts pending and higher medium prices for single-family homes.

Closed sales of existing homes within the state of Florida rose over 24 percent as compared to last years figures. Good news for both buyers and sellers.

Buyers are seeing  pending sales for existing single-family homes up 12.9 percent over last year and townhouse-condos sales increased 1.4 percent.  Sellers are gaining confidence, as listings for single-family homes increased 8.6 percent and townhouse-condos increased 5.5 percent.

Florida’s median sales price for single-family existing homes went up 9.2 percent  from last year according to data from the Florida Realtor’s Industry. Condo-townhouses also experienced an 8.6 percent gain.

Short sales went down by 30.5 percent for single family homes and 36.9 percent for condo-townhouses.

Florida’s thriving economy along with a decrease in the unemployment rate is boosting Florida’s housing market according to  Florida Realtors Chief economist Dr. John Tuccillo.  Listings are going under contract with less days on the market and inventory is down giving builders an added incentive to invest in new construction as evidenced by the new developments going up all over St. Petersburg, Tampa, the Gulf beaches and surrounding areas.

According to Freddie Mac, interest rates  for a 30-year fixed-rate mortgage averaged 3.77 percent down from last year’s 4.34 percent making it a great time to buy.  www.florida realtors.com/research.com

Florida’s housing market continues growing and we are excited to be a part of it!

2015 Florida Realtors

 

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