Housing sales ‘heat wave’ continues into July

 Florida’s housing market continued to heat up in July, as it picked up steam for the second summer month.


Florida Realtors reported that July was a strong month for statewide housing sales, with higher median sales prices, more pending sales, and additional new listings. Single-family home sales totaled 24,546 — up 2 percent from July 2016 levels — while condo-townhouse sales totaled 9,246 – up 3.6 percent.


Sales and prices were also up in June of this year.


“Florida’s housing market gained momentum in July,” said Florida Realtors President Maria Wells in a news release. “More owners decided to put their homes up for sale. However, even with the increase in new listings, inventory remains tight and buyer demand is great. New listings for single-family existing homes rose 6.1 percent year-[to]-year, while new listings for existing condo-townhouse properties rose 5.5 percent.”


“Homes continue to sell quickly, resulting in increased pending sales – up 3.3 percent for single-family homes and up 3.6 percent for condo-townhouse units,” she added.


Statewide, the median sales price for single-family homes was $240,000 – up 7.1 percent year-to-year, while the median price for condo-townhouses was $170,950 — up 6.8 percent. July reportedly marked the 68th month in a row that statewide median prices for both sectors rose year-over-year.


Nationwide, the number of housing starts and completions was mixed in July compared to the same month last year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.


The number of privately owned housing starts totaled 1.15 million – down 5.6 percent – while housing completions stood at 1.17 million – up 8.2 percent. Housing starts and completions have risen consistently since July 2012.


New housing starts are considered to be an indicator of economic strength, and present opportunities for contractors and workers in the construction trades. The U.S. Bureau of Labor Statistics reported a slight uptick in new construction industry jobs in July, with most of the increases seen in the residential construction sector.


Housing and real estate data for August 2017 was released in mid-September.


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