Florida Home Sales Down; Prices Up

In first quarter 2006, Florida's housing sector followed the national trend, demonstrating signs of a market adjusting to rising mortgage rates, higher inventory levels, and a better balance between buyers and sellers.

Sales of single-family existing homes totaled 45,864 statewide during the three-month period, a decrease of 20 percent compared to the same quarter a year ago. The statewide existing-home median sales price rose 20 percent to reach $248,000.

Source: Florida Association of Realtors