Not surprising as the word on the street is wait it out, Florida showed much slower home sales in the second quarter. The Florida numbers were down 27 percent statewide as the market has entered the wait and see mode.
Or else the speculators were that big a part of the Florida marketplace. And here is the amazing stat, even with the numbers looking this will be the third best year in the history of Florida real estate sales.
Statewide, sales dropped 27 percent, to 53,161, compared with the same period last year. In Tampa Bay, there were 10,187 sales, 31 percent fewer than last year’s 14,768.
“Sales of existing single-family homes in Florida behaved like much of the U.S. in the 2006 second quarter, with the declining strength of the domestic economy continuing to act like a stiff wind in the face of the existing real estate market,” David Scott, executive director of the Dr. Phillips Institute for the Study of American Business Activity and professor of finance at the University of Central Florida, said in a release.
The statewide existing-home median sales price rose 9 percent to $254,800 in the second quarter; a year ago, it was $234,500. Tampa Bay’s median price rose 21 percent to $232,200 from last year’s $191,700. via the Tampa Bay Business Journal
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