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FLORIDA HOME SALES INCREASE 7 PERCENT IN APRIL

 ORLANDO, Fla., May 25 /PRNewswire/ -- State sales of single-family existing homes rose 7 percent in April 1993 compared to April 1992, according to the Florida Association of Realtors (FAR). Single-family existing home sales increased significantly in five metropolitan statistical areas (MSAs): Fort Pierce, Ocala, Bradenton, Gainesville and West Palm Beach-Boca Raton-Delray Beach.
 FAR President Dale G. Jundt said, "Today's lower interest rates help people afford more home for less money. Purchasing an $84,000 home, assuming a 10 percent down payment at today's interest rate of 7.55 with a 30-year fixed mortgage, your monthly mortgage payments will be $531.20. If you purchased the same-priced home in 1988, when interest rates were 9.32, your monthly payments would be $625.78. If you bought the home in 1982 when interest rates were 15.33, your monthly payments would be $975.90"
 The most impressive increase in sales, 83 percent, occurred in the Fort Pierce MSA. Michael Bradley, president of the St. Lucie County Board of Realtors, noted that during April many first-time home buyers and out-of-state buyers were in the market for lower-priced homes. Evidence of this activity is seen in the single-family existing home median sales price. Compared to April 1992, the median sales price for the Fort Pierce MSA dropped 16 percent in April 1993. The median price is the midpoint in the price range; half the homes sold for more and half sold for less.
 The other four MSAs increased 25 percent or more. Single-family existing home sales in the Ocala MSA accelerated 50 percent over this month last year. Ocala's stronger home sales are partially a result of additional manufacturing, according to Fred Wright, president of the Ocala/Marion County Association of Realtors. Bradenton recorded a 40 percent increase in sales, and the Gainesville MSA experienced a 29 percent increase in sales, combined with an 18 percent increase in median sales price. And for the sixth consecutive month, single-family existing home sales in the West Palm Beach-Boca Raton-Delray Beach MSA increased significantly. Sales figures for April 1993 rose 25 percent over April 1992.
 Also noteworthy, the median sales price for single-family existing homes in the Naples MSA rose 24 percent in April 1993, compared to this time last year. Both Wendy Happney, president of the Marco Island Area Association of Realtors, and Jeanne Haynes, president of the Naples Area Board of Realtors, noted that many international buyers have been in the market. Happney added that more buyers have come from Wisconsin and Minnesota, formerly states that migrated to California for retirement.
 Two charts showing statistics for 18 of Florida's MSAs follow. The first compares the number of existing single family homes sold by realtors during April 1993 vs. April 1992. The second compares median prices during the same time period.
 The Florida Association of Realtors, the voice for real estate in Florida, provides programs, services, ongoing education, research and legislative representation to its 60,000 members in 87 local boards/associations throughout Florida.
 APRIL SINGLE-FAMILY EXISTING HOME SALES ACTIVITY
REALTOR Sales Only April 1993 vs.
 Metropolitan Statistical April 1992
 Areas (MSAs) April 1992 April 1993 Pct. Change
 Bradenton 99 139 40
 Daytona Beach 308 314 2
 Fort Lauderdale
 Hollywood-Pompano
 Beach 905 1,013 12
 Fort Myers-
 Cape Coral 337 367 9
 Fort Pierce 114 209 83
 Gainesville 133 172 29
 Jacksonville 501 479 -4
 Lakeland-
 Winter Haven 173 175 1
 Melbourne-
 Titusville-Palm Bay 351 367 5
 Miami-Hialeah 984 1,020 4
 Naples 104 106 2
 Ocala 107 160 50
 Orlando 775 849 10
 Pensacola 280 256 -9
 Sarasota 345 368 7
 Tallahassee 124 132 6
 Tampa-St. Petersburg-
 Clearwater 1,731 1,710 -1
 West Palm Beach-
 Boca Raton-Delray
 Beach 572 714 25
 Based on a survey of MLS sales levels from Florida's Realtor Boards/Associations. MSAs are defined by the 1980 Census. Source: Florida Association of Realtors.
 APRIL SINGLE-FAMILY MEDIAN SALES PRICES
REALTOR Sales Only April 1993 vs.
 Metropolitan Statistical April 1992
 Areas (MSAs) April 1992 April 1993 Pct. Change
 Bradenton $85,500 $89,300 4
 Daytona Beach 66,700 64,700 -3
 Fort Lauderdale-
 Hollywood-Pompano
 Beach 101,200 99,600 -2
 Fort Myers-Cape
 Coral 88,100 83,200 -6
 Fort Pierce 94,000 79,400 -16
 Gainesville 75,300 88,500 18
 Jacksonville 75,400 76,900 2
 Lakeland-Winter
 Haven 65,800 61,500 -7
 Melbourne-Titusville-
 Palm Bay 74,300 73,100 -2
 Miami-Hialeah 99,100 96,000 -3
 Naples 136,700 170,000 24
 Ocala 50,000 53,500 7
 Orlando 87,900 91,200 4
 Pensacola 64,500 73,200 13
 Sarasota 88,700 97,500 10
 Tallahassee 83,800 90,000 7
 Tampa-St. Petersburg-
 Clearwater 70,300 72,900 4
 West Palm Beach-
 Boca Raton-Delray
 Beach 113,200 109,500 -3
 MSAs are defined by the 1980 Census. Based on a survey of MLS sales levels from Florida's Realtor Boards/Associations. Source: Florida Association of Realtors.
 -0- 5/25/93
 /NOTE TO EDITOR: You may wish to use this release in tandem with today's release from the National Association of Realtors.
 CONTACT: Jeff Zipper, vice president, communications of the Florida Association of Realtors, 407-438-1400, ext. 2314/


CO: Florida Association of Realtors ST: Florida IN: SU:

JB-SS -- FL012 -- 2345 05/25/93 17:26 EDT
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Date:May 25, 1993
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