Even as job losses mount and mortgage lending remains tight, South Floridians still are buying homes.
Bargain hunters continue to respond to plunging prices, with October sales of existing homes in Broward County Click here for restaurant inspection reports rising 46 percent, to 625 from 428 a year ago, the Florida Association of Realtors said Monday. The median price plummeted 29 percent, to $252,500 from $354,000 last October.
Sales have shot up since July, but that doesn’t mean the region’s nearly 3-year-old housing slump is ending, analysts say.
The October figures reflect home sales contracts signed during the summer, before the financial free-fall on Wall Street. Prices are expected to keep dropping as long as the foreclosure problem persists.
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