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  3. Existing Home Sales in Florida on the Rise

Existing Home Sales in Florida on the Rise

Posted on Jun 22, 2010

May marked the 21st consecutive month that sales of existing homes in Florida showed an incline, according to Florida Realtors. Increasing 18%, this type of sales activity is a positive sign for the real estate market in Florida.

 

In a yearly comparison, the median sales price of existing homes, across the state, has declined by only 2% to $140,400.  Nationally, the median sales price stands at $173,000, which is to say that half of the homes for sale are selling for less than $173,000 and half are selling for more.

 
Mortgage rates came in at 4.75%, according to mortgage giant Freddie Mac, which is up from 4.72% the week before, but still very attractive to potential homebuyers or those looking to refinance.
 
This is a great time to buy!  Home prices are still low and mortgage rates are hovering at or around 5%.

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