Florida Home Sales Up In March

Recession and foreclosure doom and gloom is doing little to dampen sales of existing Florida homes and condos, which continue to be priced a levels homebuyers are finding affordable. A federal tax credit that ends soon also has helped drive sales.

Florida Realtors is reporting that sales of existing homes in March increased 24 percent, with a total of 16,294 homes sold statewide. That's compared to 13,090 homes sold over the same period in 2009. The median price of an existing-home in March was $137,000. While that price is lower than the price reported at the same time a year ago, it was 4.3 percent higher than Februarys statewide existing-home median price.

Sales of existing condos in Florida increased 63-percent statewide in March compared to the previous years sales figure. The statewide existing-condo median price of $96,900 is lower compared to the year-ago figure but 5.1 percent higher than Februarys statewide existing-condo median price.

Seventeen of Floridas metropolitan statistical areas (MSAs) reported increased existing home sales in March. MSAs statewide reported higher condo sales. A majority of the states MSAs have reported increased sales for 21 consecutive months now.

Florida Realtors Vice President for Public Policy John Sebree, said it is "reasonable to conclude that existing homes sales reflect the boost from the extended and expanded homebuyer tax credit.

"In addition" he added, "the median price in Florida is more affordable than the rest of the nation."