Fla. home sales rise in third quarter

Sales of existing homes in Florida rose 12 percent for the quarter ending Sept. 30 when compared to the same period a year earlier, the Florida Realtors reported Wednesday. Statewide sales of existing condos in the third quarter rose 13 percent compared to the year-ago sales figure. Median home prices stabilized during the quarter, rising nominally to $136,000 for the three-month period; compared to $135,900 in 2010. "The quarterly numbers confirm the general improvement in Florida's housing market in both sales and prices that we've been seeing since January 2011," said Florida Realtors Chief Economist Dr. John Tuccillo, in a statement. Mortgage rates remained around historical lows in the third quarter, with Freddie Mac reporting 30-year conventional fixed-rate mortgage averaged 4.31 percent in 3Q 2011; down from 4.45 percent a year earlier.
 

-- from News Service of Florida