Fla.’s housing market continues growth trends in March 2015

Posted on April 22, 2015 by Rory Mark Schmer from South Florida
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Fla.’s housing market continues growth trends in March 2015

Florida's housing market continued its positive track in March with more closed sales, higher median prices, increased pending sales and new listings, according to the latest housing data released by Florida Realtors®.

Closed sales of existing single-family homes statewide totaled 24,811 last month, up 24.6 percent in a year-to-year comparison. "Positive growth in Florida's housing market is encouraging sellers and buyers," says 2015 Florida Realtors President Andrew Barbar. "On the buyers' side, new pending sales for existing single-family homes in March increased 12.9 percent year-over-year, while pending sales for townhouse-condo units increased 1.4 percent. On the sellers' side, new listings for single-family homes rose 8.6 percent year-over-year and new townhouse-condo listings rose 5.5 percent."

March marked the 40th consecutive month that statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year. The housing market continues to thrive on the growing Florida economy – jobs are up and so are sales. Florida Realtors Chief Economist Dr. John Tuccillo. "The continued fall of cash sales as a percentage of total sales suggests that demand is increasingly coming from household owner-occupants, a trend that bodes well for market stability. Days on the market are down, as is inventory, particularly at the low end of the market. This points to a potential sweet spot for homebuilders.

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