Oct 24, 2007 3:36 pm US/Eastern
Broward Home Prices Drop, Dade's Remain Flat
MIAMI-DADE (CBS4) ―
-
-
Housing Sales For South Florida Dropped in September
CBS
The U.S. housing industry plunged a little deeper into recession last month as the August credit-market collapse made it harder for buyers to obtain loans.
Sales of previously owned homes fell 8 percent in September to an annual rate of 5.04 million, the fewest since records began in 1999, the National Association of Realtors said in Washington on Wednesday.
The decline was almost twice as steep as economists forecast, while the median price dropped the most in almost a year.
Sales prices fell in Broward by 7 percent.
And according to <strong>CBS4</strong> news partners <strong>The Miami Herald</strong> existing homes and condos in South Florida continued to plunge in September from a year ago, according to new numbers from the Florida Association of Realtors.
In Broward County, prices fell sharply: the median price of homes was down 7 percent year-over-year to $345,200, while condo prices slipped 15 percent from last year's median to $174,600.
In Miami-Dade, home prices were mostly flat at $372,300, and condo prices actually rose 2 percent to $275,000.
Statewide, sales dropped 38 percent, and Florida's median sales price for existing single-family homes last month declined 9 percent to $221,200. The median is the midpoint; half the homes sold for more, half for less.
(© MMIX CBS Television Stations. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. CBS4 news partner The Miami Herald contributed material for this report)
Click to enlarge
Stumble It!
Reporting
