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Fla.'s Housing Market Continues Positive Track In Dec. 2012

Looking at Florida's year-to-year comparison for sales of townhouse-condos, a total of 8,470 units sold statewide last month, up 8.6 percent compared to December 2011. Meanwhile, pending sales for townhouse-condos in December increased 31.8 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $117,500, up 26.3 percent over the previous year. NAR reported that the national median existing condo price in November 2012 was $181,000.

December marks the 12 th consecutive month of higher statewide median sales prices for both single-family homes and for townhouse-condo units year-to-year, according to Florida Realtors' data.

The inventory for single-family homes stood at a 5.5-months' supply in December; inventory for townhouse-condos was at a 6-months' supply, according to Florida Realtors.

"The market continues to improve, and it's doing so in all parts of the state," said Florida Realtors Chief Economist Dr. John Tuccillo. "Of note is the fact that inventory levels are now clearly consistent with a sellers' market. When the final year-end statistics are compiled, expect that sales in 2012 will be more than 10 percent higher than they were in 2011. Once again, all the positive indicators are up significantly. The Florida real estate market is rapidly improving."

The interest rate for a 30-year fixed-rate mortgage averaged 3.35 percent in December 2012, down from the 3.96 percent averaged during the same month a year earlier, according to Freddie Mac.

To see the full statewide housing activity reports, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the December 2012 data report PDFs under Market Data at: http://media.floridarealtors.org/market-data

Florida Realtors® , formerly known as the Florida Association of Realtors® , serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 118,000 members in 63 boards/associations. Florida Realtors®  Media Center website is available at http://media.floridarealtors.org .

SOURCE Florida Realtors

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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