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News & Information: Real Estate News

Florida pendings leap 31 percent in January

Thursday, February 21, 2013  
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Sales of existing single-family homes were up 12 percent in January compared to last year, while the median price increased 12 percent and pending sales leapt 31 percent, reports Florida REALTORS®.

"This year started out strong for Florida’s housing market,” said 2013 Florida REALTORS® President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. "Homes sales continue to rise, mortgage rates remain near historic lows and the inventory of for-sale homes is lower than it’s been in years. Plus, the time it takes for a home to sell is dropping; the median days a home is on the market declined about 15 percent for both single-family homes and for townhome-condo properties. However, overly restrictive credit requirements remain an obstacle for many potential buyers, who find it difficult to access affordable financing options.”

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