April marked yet another month of increased sales activity in Florida's residential real estate market. According to the latest housing data released by ""Florida Realtors"":http://www.floridarealtors.org/, existing home and condo sales in the Sunshine State increased on both a year-over-year and month-to-month basis last month.[IMAGE]
With 16,781 existing homes sold statewide in April, sales activity surged 27 percent from the same month last year. That means Florida's existing home sales have increased in the year-to-year comparison for 20 months, Florida Realtors said. In addition, existing home sales in April jumped nearly 3 percent from March.
As for existing condos, 7,291 units sold statewide in April, soaring 55 percent from a year ago and inching up 2 percent over existing condo sales activity in March.
Growth in existing home sales in April was reported in 17 of Florida's metropolitan statistical areas (MSAs), and all[COLUMN_BREAK]
but one of the state's MSAs had higher existing condo sales. Florida Realtors said a majority of the state's MSAs have reported an increase in sales for 22 consecutive months.
""Buyers responding to the federal homebuyer tax credit before it expired helped to boost home sales across Florida,"" said Wendell Davis, 2010 Florida Realtors president. ""And buying conditions remain favorable, with a variety of housing options available in local markets at attractive and affordable prices.""
According to Florida Realtors' report, Florida's existing home median price of $140,100 in April was 1 percent higher than the statewide median price in April 2009. And the median price jumped 2.3 percent from March, marking the second month in a row that prices have increased on a month-to-month basis.
Data regarding prices of existing condos was mixed. While April's statewide existing condo median price of $103,600 was down 3 percent compared to the year-ago figure, it was 6.9 percent higher than March's median price.
In its latest outlook, the National Association of Realtors (NAR) said two trends are influencing a broader stabilization of home prices in housing markets across the nation: months of increased sales activity and lower levels of inventory.
""Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably,"" said Lawrence Yun, NAR chief economist. ""With home values stabilizing, a revival in homebuying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears.""