Florida home sales slow down after boom but steady

Home sales have dropped every month so far in 2016, but real estate agents say the market was bound to slow slightly after record-setting numbers in 2014 and 2015. Single-family sales in June, which reflect contracts signed one to two months earlier, were the highest for a month so far in 2016.

Florida’s housing market reported higher median prices and fewer days to a contract in June, according to the latest housing data released by Florida Realtors. Last month closed sales of single-family homes statewide totaled 27,086 – slightly higher (0.4 percent) than the June 2015 numbers of 26,973 closed sales.

“Florida’s housing market is experiencing tight supply and pent-up demand,” said 2016 Florida Realtors President Matey H. Veissi, broker and co-owner of Veissi & Associates in Miami. “That’s affecting the pace of sales and putting pressure on statewide median prices. Florida’s economic growth, rising jobs outlook, and acclaimed quality of life continue to draw new residents eager to call the Sunshine State home.”

The statewide median sales price for single-family existing homes last month was $225,000, up 10.8 percent from the previous year, according to research conducted by Florida Realtors. The statewide median price for townhouse-condo properties in June was $164,000, up 8.6 percent over the year-ago figure. Read more at Florida Realtors Media Center.