Housing market is looking up in Florida and especially Palm Beach County.

The following article is from the South Florida Business Journal.  It reflects the increased interest from buyers.

The freeze on Florida home sales is thawing a bit, but home prices are still very much depressed.

Statewide, sales of existing, single-family homes were up 13 percent in the fourth quarter, compared to the same period a year prior, according to the latest statistics from the Florida Association of Realtors.

It marks the second consecutive quarter that the Sunshine State has reported a rise in home sales.

A total of 30,163 existing homes sold statewide in the fourth quarter, up from 26,635 existing homes sold during the same quarter in the previous year.

The state trade group also reported a 3 percent gain in statewide sales of existing condominiums in the fourth quarter, compared to the same time the previous year.

Foreclosures and a continued glut of homes on the market are keeping home prices down.

The statewide existing-home median sales price was $161,200 in the fourth quarter, down 26 percent from $216,600 a year earlier.

Statewide condo sales were up 3 percent, to 8,374 units for the fourth quarter from 8,098 the fourth quarter of 2007. However, the statewide median price of a condo was $136,400 for the three-month period, down 28 percent from $190,400 the previous year’s quarter.

Yours truly, Jim Jacobs

www.YourUltimateTeam.com

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