Sales of Homes in Lee County Up

Sales of existing homes in Lee County rose 5 percent from 1,139 in July to 1,193 in August while the median price fell 5 percent from $93,500 to $88,400, according to statistics released today by the Florida Association of Realtors.
August home sales were down 5 percent from August 2009, when the number was 1,252. The median price was down 1 percent from $89,300 in August 2009.The association’s numbers are for sales of homes in which a Realtor handled the transaction.
In a separate report also released today, the National Association of Realtors said sales of previously occupied homes rose last month, but not enough to keep August from being the second-worst month for sales in more than a decade.
Sales rose 7.6 percent in August from July to a seasonally adjusted annual rate of 4.13 million, the National Association of Realtors said today. Sales were down 19 percent from the same month a year earlier.
July was the worst month for sales in 15 years. That was unchanged by a slightly upward revision.
High unemployment and a record number of foreclosures have kept the economy from gaining strength since the recession ended. Those factors have also deterred many people from buying homes.
The housing industry received a boost this spring when the government offered home-buying tax credits. But it has struggled since those expired in April.
Low prices and the cheapest mortgage rates in decades haven’t been enough to lift the housing market.
The median sale price was $178,600, up 0.8 percent from a year ago. Courtesy Fort Myers Newspress and Associated press.
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