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Mortgage

Florida records strong May home sales

More listings, higher median prices, increased inventory

Closed sales of single-family homes statewide reached 23,013 in May, up 3.6% over the same period a year ago, the latest report from Florida Realtors said.

May was a strong month for the state with more new listings, an increase in median prices and an uptick in inventory.

"Inventory levels continue to improve in Florida, and the months' supply of homes for sale remains stable – all good signs for the housing market," said Florida Realtors President Sherri Meadows.

"Right now, the market offers a great opportunity for sellers, who are seeing nearly 93% of their asking price at the closing table. And mortgage rates, though rising, remain historically low – giving consumers more buying power," Meadows added.

In addition, new listings for single-family existing homes in May increased 13.1% year-over-year, compared to new listing for townhouse-condos, which grew 3.9% over the previous year.

Median sales price for single-family existing homes last month came in at $180,000, increasing 4.3% from the previous year. 

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