Tuesday, June 22, 2010

Florida Existing-Home Sales

West Palm Beach Homes are continuing to sell. News is that existing-home sales remained at elevated levels in May on buyer response to the tax credit. Most Florida real estate consultants characterized this by seeing stabilizing home prices and historically low mortgage interest rates. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

Existing-home sales, which are completed transactions that include single-family homes, townhomes, and condominiums were at a seasonally adjusted annual rate of 5.66 million units in May. That is down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

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