Existing home sales begin rebound in 2009, while prices slide

South Florida saw existing home sales bounce back in 2009, with sales up 25 percent in Palm Beach County, 53 percent in Miami-Dade, and 38 percent in Broward, according to the Florida Association of Realtors. Still, many experts expect housing to suffer into 2010 as the surplus inventory sits on the market. Statewide, there were 163,148 homes sold last year, up 31 percent over 2008. Amid the increased activity, however, home prices slid. Statewide, prices averaged $142,600 for the year, down 24 percent from 2008.
[SFBJ] and [Sun Sentinel]