Florida Home Sales Rise, Prices Fall

Since the homebuyer tax credit expired in May, Florida's real estate market has been slow to recover. But home sales in Florida rose 1% from August 2009 to August 2010 and condo sales had an even greater increase of 22% statewide.

Although home sales have increased, median home prices have fallen 9% over the last year.

Mortgage Time with Bob Green

Bob Green, VP of Lending at Tropical Financial Credit Union, explains why home sales in Florida are on the rise. Mortgage interest rates are at all time lows but are increasing due to expected economic growth.