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Florida Market Indicators

March 31, 2008

The statewide Florida sales of exixting sales in February were 8,310 which was down from 11,132 in February of 2007. As reported earlier in this blog, Sarasota’s market bucked this trend by posting gains in sales. Higher loan limits for FHA and conventioanl loans is expected to provide additional momentum in our improving market as lower interest rates will be available for higher priced homes. NAR chief economist, Lawrence Yun predicts a statewide rise in home sales in the second half of 2008.

Florida existing home sales -25%
Florida existing condominium sales -18%
Florida median home price $198,900
Florida median condominium price $175,000
Florida consumer confidence 68
National existing homes sales -8.2%
National median home price $195,900
National average mortgage rate 5.85%

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