Florida, Palm Beach homes sales rise, prices fall
By Palm Beach Business.com
DELRAY BEACH — Florida’s used-home sales climbed in June compared to year ago numbers, while prices fell. In South Florida, the picture was mixed.
Statewide, 18,038 used homes were sold, compared with 15,732 in June 2009, according to Florida's Realtors' monthly look at sales number. The median price, however fell 3 percent to $143,400. The median price is the point where half of homes sell for more, half for less.
In Palm Beach County, sales increased 27 percent in June, to 1,087 from 859 a year ago. The median price slipped 7 percent to $232,700.
In Broward, sales of used homes fell 2 percent to 844 from 862 a year ago. However, the median price rose 2 percent to $209,000.
Miami-Dade sales rose 1 percent in June to 686 from 680 a year ago. The median price fell 4 percent to $203,000.
The three South Florida counties are the only markets in Florida with a median price of $200,000 or more.
The National Association of Realtors said nationwide, used home sales dropped 5.1 percent in June to an annualized rate of 5.37 million. The NAR figures are seasonally adjusted while state and county figures represent actual sales and are not adjusted for seasonal factors.
Not surprisingly, NAR says the key to a more robust housing market is a stronger jobs market.
“If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions,” said NAR Chief Economist Lawrence Yun. “We’ll also keep a close eye on market conditions on the Gulf Coast.”
Condo sales in Palm Beach County shot up 42 percent to 1,061 in June, while the median price dropped 19 percent to $94.800.
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