Home Prices in Florida Hold Steady For May Sales

The Florida Association of Realtors reports that the median price for Single Family homes in May 2009 was $144,400. This is an increase of 4.3% from April which was $138,500. While this increase does not show a trend, it is a positive indicator that home prices are starting to stabilize. We would need several months of stable prices to show a market shift in the housing sector.

Home sales have posted year over year improvements as sales totaled 13,921 which is a 16% improvement over May, 2008. This increase mark’s nine straight months of sales increases year over year. Bottom line is if a home buyer is still sitting on the fence, they may want to seriously consider jumping in the housing market while prices are at bottom.

In other news the British Pound has been showing a strong increase over the Dollar. This is helping U.K. Buyers who are looking to purchase homes here in Central Florida. Along with the stronger currency, U.K banks have some of the best interest rates in history ranging around 5% for those who can get refinanced. Low rates and strong pound will allow more U.K. buyers to purchase vacation homes here in Central Florida.