Florida's Housing Market Shows Signs of Strength

According to the latest report by Florida Realtors, Florida's housing market is showing new signs of strength.

Home sales are up 17% from the beginning of this year and condo sales are up 8%. The reasons for the increase in sales are low prices and low mortgage rates. The median price for a home in Florida is $135,000 - 5% lower than last year.

Low home prices and low mortgage rates are making Florida homes affordable to those who were previously unable to buy a home.

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.