Pending single-family home sales jump 31 percent in Florida: report

Pending sales rose 31 percent in June for single-family homes and 23 percent for condominiums and townhomes compared to the same period in 2011, according to data from Florida Realtors. Pending sales refer to contracts that are signed but not yet completed or closed. Closed sales of existing homes also rose in June, with a 5.3 percent increase for single-family properties. The statewide median sales price for single-family homes was $151,000 last month, an 8.2-percent increase from June 2011. “Florida’s housing recovery continues its positive momentum,” said Summer Greene, the 2012 president of Florida Realtors. Despite the improvements, a lack of financing options and “overly restrictive” credit standards remain obstacles, she said. — Alexander Britell