Florida Home Sales: 'A Bottom is Approaching'

Sales of existing single-family homes in Florida rose 24 percent in first quarter of 2010, marking the seventh consecutive quarterly gain, the state Realtors association reported today.

Condo sales were up for the sixth straight quarter as well, jumping 67 percent from a year ago.

Sean Snaith, director of the University of Central Florida's Institute for Economic Competitiveness, noted, however, that median prices continue to fall in virtually every part of the state. But, he added:

"The rate at which they are falling has diminished significantly and this is indicative of a bottom approaching."

The Realtors' statistics do not include sales of new homes, which continue to slump at historic lows.

See a geographic breakdown here.