The Florida real estate market showed no signs of slowing down in October, as pending sales, closed sales and median prices all increased, according to Florida Realtors.
A total of 17,779 sales of existing single-family homes were completed in October, a 25.3 percent year-over-year gain.
Additionally, pending sales were up 56.7 percent compared to October 2011 and the statewide median price for an existing, single-family home hit $145,000, a 9 percent gain from the previous year.
“With Thanksgiving just around the corner, we have a lot to be thankful for here in Florida,” said 2012 Florida Realtors president Summer Greene. "The state’s latest unemployment rate fell to 8.5 percent, the lowest in nearly four years – and combined with the momentum of the housing market, it clearly shows that Florida is on a positive path and has been for months."
With sales continuing to increase in the Sunshine State in October, it seems as though they may be avoiding the traditional seasonal downturn. This could be happening for a number of reasons including mortgage rates hovering near all-time lows, which make home buying highly affordable.
