Home sales grow in Florida

Home sales grow in Florida

Investing in Florida is a trend in the USA

In the month of September, the Florida home sales jumped 11%.

According to the latest real estate data from Florida Realtors, in September 2019 the Florida real estate market recorded more sales, higher average prices and increased outstanding inventory compared to a year ago.

Statewide sales of single-family homes totaled 23,510 last month, a increase of 11.5% compared to September 2018.

"Mortgage rates that remain historically low and the Strong economic trends continue to help fuel Florida's real estate market", said Florida Realtors President Eric Sain. "In another positive sign, the outstanding inventory of existing single family homes increased 1.7% year-over-year, while the outstanding inventory of existing condominium properties increased 0.9%.

Florida Home Sales

Pending inventory is the number of listed properties that were under contract at the end of the month or the data collection period.

Statewide average sales prices for single family homes and condominium properties in September increased year over year by 93 consecutive months. The statewide average sales price of existing single family homes saw a 5.3% increase over the previous year, according to data from the Florida Department of Realtors Research.

"With inventory levels continuing to decline, low mortgage interest rates remain the primary reason we continue to see strong sales and price growth across much of the state," said Florida Realtors Chief Economist Dr. Brad O'Connor. "And with sales and prices continuing to climb, it should come as no surprise that the dollar volume of sales statewide also increased significantly in September of this year compared to September of last year." Statewide, closed sales of single-family homes totaled about US $ 8 billiona 17% increase over the previous year.

Source: Florida Trend
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