Broward County existing home sales down 24% from last year

Aug
21

It's official. We are in an official real estate slump. I don't see it as badly as they say because you guys are keeping me hopping every day. Thank you. However, I have to be fair and tell you the good and the not so good news just out from the National Association of Realtors.

According to the numbers out this past quarter, sales of existing homes in Florida were down an average of 41% for the months of April - June. So I wanted to give you the low down of what that means. I will start with the not so good news first so you will feel good at the end. (I just love a happy ending!)

Not so good news:

Broward County sales of existing homes were down 24%. Palm Beach County was down 21%.
Palm Beach County median home price went from $394,100 a year ago to $380,600, down 3%
Bankruptcy filings are up in Broward County

The good news:

Broward County median home prices lost less than $1,000 over the past year. They went from $373,000 last year this time to $372,200.
6 states showed an increase in sales, with Wyoming leading the way.
65% of the areas surveyed were actually up, mostly metropolitan areas.

So what does this mean to you? It's time to buy! I know this sounds exactly like what you expect me to say but think about it and stay tuned for the reasons. I just couldn't resist the temptation to keep you coming back.

Talk to you tomorrow,

Christine

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