Friday, September 21, 2018
Business

Florida home sales continue upward trend

Worries over flood insurance, mortgage rates and low inventories have yet to derail Florida's housing recovery, as home sales stayed on a year-over-year growth streak last month, new Florida Realtors data show.

More than 18,000 single-family homes sold statewide last month, 18 percent more than September 2012, Realtors data show. And the median home price rose to $170,000, 17 percent higher than last year.

Though home sales slipped a bit from the summer boom, September marked the 22nd month in a row that single-family homes, condos and townhomes sold for more money than they did the year before.

The supplies of homes for sale remains dramatically low, however, nearly 30,000 homes were newly listed on the market in September, 20 percent more than the same time last year.

"We've moved into a slightly different stage of growth," said Realtors chief economist John Tuccillo.

The median price for a Tampa Bay single-family home in September was about $155,000, 20 percent higher than last year. Condos and townhomes sold for about $96,000, 10 percent higher than last year.

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