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Mortgage

Florida housing recovery presses on

Higher prices, more listing, rise in inventory

The recovery continues to permeate into Florida’s housing market as the state recorded higher median prices, more new listings and a slight rise in inventory in April, the Florida Realtors said.

Closed sales of single-family homes statewide totaled 21,385 last month, increasing 4.1% over the April 2013 figure.

In addition, this was the 29th month in a row that median sales prices rose year-over-year for both single-family homes and townhome-condo properties.

"Florida's strengthening economy and increased jobs outlook are positive signs for continued growth in the state's housing market," said 2014 Florida Realtors President Sherri Meadows.

"Statewide, new listings for single-family homes in April rose 9.2% year-over-year, while new townhouse-condo listings rose 1.4%. This increase in listings shows many Florida homeowners are continuing to regain equity in their homes. Potential sellers who were on the sidelines now believe the time is right to put their residences on the market,” Meadows continued.

Meanwhile, the statewide median sales price for single-family existing homes last month was $175,000, up 6.1% from the previous year.

"We continue to see the development of a sustainable market here in Florida," said Florida Realtors chief economist John Tuccillo. 

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