Sales of existing homes increased in Broward County last month, but don’t call the moving company just yet.
Responding to deep price cuts, buyers scooped up 581 houses in July, up 4 percent from 559 a year ago, the Florida Association of Realtors said Monday. The median price of $303,600 decreased 19 percent from $373,700 a year ago.
The sales surge was Broward’s first on a year-over-year basis since October 2006. Still, sales fell 13 percent from June, ending a string of five consecutive
South Florida’s housing slump likely will linger into 2009, analysts say, with the market not starting to rebound until the double-digit price declines ebb and prices start increasing along with sales.
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