Tampa Existing Homes Sales June 10

Tampa Existing Home sales rose by 13% in June at a rate of 3,226 compared to last year’s number of 2,848.  While sales have improved sales price was basically flat year-over-year at $138,400. 

Florida Existing Home sales for the month of June were up 17%.  The numbers came in at 18,371 homes sold from 15,732  in June of 2009.  From a sales price perspective the median sales price was $141,00, which was basically flat from April’s number of 141,100.

National Sales of Existing Home (Single-Family & Condo) for the month of June.  The numbers came in at an annual adjusted rate of 5.37 million down (5.1%) from an upwardly revised level of 5.66 million in May.  However, this decrease was still 9.8% better than the 4.89 million units in June of 2009.

Our Perspective:  As we stated last month we have turned cautious in our outlook for the Summer Buying Season going into the Fall.  While individuals are still purchasing, we have concerns that with the continued high unemployment rate, weakening stock market and higher future inventories (due to short sales and REO’s), the real estate market is looking cloudy.

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