Florida price gain

31% median price gain for June — volume off 3%

A continuing tight supply of homes available for sale, low mortgage rates and high demand impacted Florida’s housing market in June, helping to push the statewide median price of existing single-family homes up 31 percent to $248,700; a year ago, it was $189,200, according to the Florida Association of Realtors (FAR).

Statewide, resales activity slowed slightly from the blistering pace of recent months, with a total of 25,455 homes sold compared to 26,112 homes a year ago, for a 3 percent drop.

On a national basis, sales of previously owned U.S. houses hit a record pace in June, climbing 2.7 percent as home prices soared 14.7 percent from a year ago, the biggest jump in nearly 25 years, says the National Association of Realtors.

The national median home price rose to $219,000, up from $191,000 a year ago and the strongest increase since November 1980, when annual appreciation was 15.6 percent, the group said.

Florida’s Home Median Prices Continue to Rise in June [RIS Media]