South Florida''s housing market parted ways in February, with Broward County registering solid monthly gains in both single-family and condo prices and Miami-Dade showing more modest improvement.
Sales of existing single-family homes in Broward was up 8 percent from January to February and median prices increased 4 percent to $186,700. Condominiums also registered an improvement as sales were up 5 percent and median prices increased 3 percent to $71,500 during the period.
In Miami-Dade the number of single-family homes sold was up just 2 percent from January to February and prices were up 4 percent at $191,100. Condo sales, however, were virtually flat, up just 1 percent vesus the previous month, as prices slid 11 percent to $126,100.
The figures, released by Florida Realtors Tuesday were in contrast to the national home sales figures, which fell for the third straight month in February, pushing sales down to the lowest level since last July. There is concern that the fragile housing rebound could falter, making it harder for the overall economy to recover.
The National Association of Realtors said that across the nation sales of previously occupied homes dropped 0.6 percent in February to a seasonally adjusted annual rate of 5.02 million. The weakness in sales depressed prices with the median home price dropping by 1.8 percent from a year ago to $165,100.
The Associated Press contributed to this report.
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