Home, condo sale prices fall

Home and condo prices fell statewide last month, and while Gulf Coast property owners managed to sell more condos at lower prices, home sales stagnated in Tampa Bay and Fort Myers.

As federal tax credits have expired, real estate markets have struggled nationwide, according to the National Association of Realtors. NAR chief economist Lawrence Yun expects those struggles to continue. “Home sales will remain soft in the months ahead,” Yun said in a release.

In Florida, the statewide median sale price for an existing home was $134,000 last month, down 9% from last year's $146,500 price point.