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Home sales strength unabated in Florida
By KYLE PARKS © St. Petersburg Times, published February 13, 2001 With the Tampa Bay area leading the way, people bought Florida homes in record numbers last year. And though some home shoppers are telling real estate agents they're worried about the slowing economy, the industry hopes Florida's diverse mix of buyers will keep its business hopping in 2001. "Many buyers aren't being as impulsive as they were a year ago," said Michael Bindman, a broker with Realty Executives Gulf Coast in Seminole. "And some people think we are going into a recession when we really aren't." Still, Bindman and other agents expect the state to weather the economy's slowdown just fine, and they think Florida can keep selling homes at its current pace. Last year, sales of existing homes in the state increased 6 percent, with 157,312 homes sold. The Tampa Bay area led Florida's major metro areas with 26,960 homes sold, an 8 percent increase from 1999. "Florida's growth is a primary factor fueling the strong housing market," said Don Asher, an Orlando agent who is president of the Florida Association of Realtors. Other cities had similar sales growth: Miami home sales were up 10 percent, Naples was up 15 percent, Sarasota-Bradenton was up 9 percent and Orlando was up 8 percent. The state's 6 percent growth in sales followed a 7 percent increase in 1999 and a 12 percent increase in 1998. The price of homes also continued to rise last year, as the average price statewide rose 7 percent to $115,900. In the Tampa Bay area, the average sale price was up 6 percent to $100,500. In the hottest neighborhoods in Pinellas and Hillsborough counties, that will buy a 900-square-foot home with two bedrooms and one bathroom. But in some areas, buyers still can get a 1,200-square-foot home with three bedrooms and two bathrooms for that price. Realtors around the bay area say their confidence in the market's health for 2001 is based on the assumption that interest rates will continue to fall and on the fact that they are seeing many different types of buyers. "If anything, this area is more transient than ever before, but that is helping sales," Bindman said. "People are buying for different reasons. Some want a second home. Some are planning to retire in five years here and will rent the home in the meantime. And there are more small companies coming down here that are hiring." Another factor fueling their optimism: Home sales didn't slow in the fourth quarter, even as concerns mounted about the economy. Statewide, fourth-quarter sales were up 7 percent from the previous year, to 37,246. And in the Tampa Bay area, sales were up 8 percent, to 7,063. - Contact Kyle Parks at parks@sptimes.com or (813) 226-3405.
 © 2006 • All Rights Reserved • St. Petersburg Times
490 First Avenue South • St. Petersburg, FL 33701 • 727-893-8111 
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From the Times Business report
From the AP
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