The Real Deal Miami

Florida Association of Realtors: housing market ‘trending up’

Statewide sales of single-family homes were 23 percent higher than a year ago
July 24, 2013 12:00PM

Florida’s housing market continued growing in June, with a higher numbers of sales, more listings and reduced inventories, the Florida Association of Realtors says in a report released this week.

Median sales prices for single-family homes rose for an 18th consecutive month in June, when prices were 23 percent higher than the same time a year ago.

In June there were 20,403 closed sales statewide, an 8.6 percent gain from 12 months ago. There was about five months’ inventory on the books, the report said. Healthy supply and demand for residential real estate is generally considered six months’ inventory, suggesting that the current market favors sellers.

“The rest of the country is finally catching on to the fact that Florida’s real estate market is growing significantly,” said Florida Realtors Chief Economist Dr. John Tuccillo, who sees the inventory crunch easing later in the year with the help of new listings. — Emily Schmall