Price cuts still ruled in June as South Florida’s housing slump trudged into its 30th month.
Palm Beach County’s median price for existing homes was $334,300, off 12 percent from $377,900 a year ago, the Florida Association of Realtors said Thursday. Sales fell 3 percent, to 744 from 764 during the same period last year.
Both sales and prices were up slightly from May, suggesting that the rate of deterioration in the market has slowed. But experts still don’t think the region’s housing sector will perk up before 2009.
“We’re seeing a lot of bottom-fishing,” Mike Larson, a housing analyst with Weiss Research in Jupiter, said of buyers. “We’re still a market that’s struggling.”
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