Florida homes sales fall nearly 40%

Existing single-family homes sales in Florida again fell in November, this time dropping 38.2% over the same time period last year. Condominium and town house sales didn’t fare any better, falling 38.9% in November compared with last year.

The data, released by Florida Realtors on Wednesday, Dec. 21, is further proof that the housing market, which just a year ago was so active that thousands of potential buyers were left unable to even compete for a shot at buying a house, is cratering as interest rates continue rise.

Nationally, the news wasn’t any better. Existing home sales across the country were down 35.4% in November from a year ago and 7.7% from October, according to the National Association of Realtors. It was the 10th straight month home sales fell nationwide.