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August Home Sales

September 25th, 2009 by flanews

Home sales in Florida continue to rise, as prices continue to fall.

August home sales are up 28 percent over August a year ago. More than 13,000 homes were sold last month. The median price fell 20 percent over the past 12 months from 190,000 to 150,000 dollars. Cynthia Shelton, President of the Florida Association of Realtors, says the falling price is a sign the housing market is leveling out.

Its good and bad. Because we rose so quickly prices went up so fast for years. Its now dropped. You know what? Those things that go up must come down eventually and so if you look at it what its done is its given us the opportunity to have an affordable housing market in the state which will bring back jobs, which will help the economy, said Shelton.

The 8,000 dollar first time homebuyer tax credit is fueling the surge in home sales. More than a hundred thousand Floridians have taken advantage of the credit. In order to claim the credit buyers have to close on their homes by November 30th. The Florida Association of Realtors is pushing congress to extend the program.

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