Florida Existing Home & Condo Sales Up In November 2011

ORLANDO, Fla. – The Florida existing home & condo sales continued its positive upswing in November, according to the latest housing data released by Florida Realtors. Existing home sales increased 11 percent last month.

“It is really clear that two things are happening in Florida real estate”, said Florida Realtors Chief Economist Dr. John Tuccillo. Sales are moving upward not by a large increase, but definitely, positively on an upward trend. Second, prices are stabilizing. Now, it doesn’t mean that prices have turned around but they are stabilizing, and that’s vital for the market to gain equilibrium.

The more important factor is that sales are increasing and in large part, that’s due to lenders becoming more educated on how to deal with distressed properties more effectively and in a more timely manner and that is helping the Florida real estate markets recover.

“In recent weeks, we have seen encouraging reports of job growth and improvements in the Florida economy”, said 2011 Florida Realtors President Patricia Fitzgerald, all positive signs for the housing recovery.

Source: 2011 Florida Realtors

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