• Posted on Thursday, September 25, 2008
  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here

S. Florida home sales rise, but prices likely to go still lower

Sign up for email newsletters now!

Sign up for email newsletters now!

Never miss a McClatchy story

South Florida home sales rose in August at a rate not seen in more than four years, amid signs that lower prices are drawing buyers back into the region's long-slumping housing market.

The market still has a long way to go: The inventory of homes for sale actually rose in Miami-Dade County compared to a year earlier, and market watchers say that number needs to shrink before prices will stabilize.

Numbers released Wednesday by the Florida Association of Realtors showed existing single-family home sales in Miami-Dade County increased 22 percent and Broward sales increased 12 percent compared to the same period a year ago. Condominium sales were up 13 percent in Miami-Dade, while Broward condo activity for the month was even compared to August 2007.

It's the first time since June 2004 that sales across the board have not declined compared to the year before.

Read the full story at MiamiHerald.com.

JOIN THE DISCUSSION

We welcome comments. To post one, you must sign in using either your McClatchyDC login or your login for Facebook, Twitter or Disqus. Just click the appropriate box below.

Please keep your comment civil, short and to the point. Obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. If you find a comment abusive or inappropriate, please flag it for the moderator by placing your cursor on the comment, then clicking the "flag" link that appears. Thanks for your participation.

ECONOMY IN TURMOIL

economy in turmoil

Read McClatchy coverage of the economic pain Americans around the country are feeling, from Florida to California to Alaska.

ECONOMY QUESTIONS & ANSWERS

 hall & pugh

McClatchy correspondents Kevin G. Hall (left) and Tony Pugh are available to answer your questions about the economic meltdown at home and abroad, and what's in store for ordinary Americans.

Q&A: THE HOUSING CRISIS

Mark Zandi, the chief economist for Moody's Economy.com, is took questions from McClatchy readers about the nation's deep housing crisis. His book, "Financial Shock," offers a 360-degree look at what caused the crisis, what mistakes were made and who made them. It offers a way forward to prevent future crises.

Q&A: TERMINAL CHAOS

U.S. air travel these days is about as fun as a trip to the dentist. Departure delays are rampant, bags often miss the flight you've caught and rising jet fuel prices have major airlines charging to check a bag. In his new book "Terminal Chaos," George Donohue, a professor and former high-level Federal Aviation Administration official, explains why our system of air travel is broken and what can be done to fix it. Read the responses.

Q&A: THE THREE TRILLION DOLLAR WAR

For two weeks, Nobel Prize-winning economist Joseph Stiglitz and Harvard professor Linda Bilmes, authors of "The Three Trillion Dollar War," fielded questions about the cost of the Iraq war and its impact on the U.S. economy. They're not taking new questions, but they're still posting answers to ones they've already received. Read their responses.