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FLORIDA HOME SALES JUMP 21 PERCENT IN OCTOBER; SIXTH CONSECUTIVE MONTH FOR DOUBLE-DIGIT INCREASE

 ORLANDO, Fla., Nov. 29 /PRNewswire/ -- State sales of single-family, existing homes rose 21 percent in October 1993 compared to October 1992, according to the Florida Association of Realtors (FAR). This is the sixth consecutive month a statewide, double-digit increase has been recorded.
 The largest increase, 57 percent, occurred in the Miami-Hialeah Metropolitan Statistical Area (MSA). Local Realtors report that buyers have been attracted by the low interest rates. According to Nancy Hogan, a branch manager with Prudential Florida Realty and chairman of the board of the Realtor Association of Miami, "We are seeing some relocation to this area, but our 1993 numbers have a storm-inflicted edge." During October 1992, the real estate market in this MSA was slow as people were recovering from Hurricane Andrew.
 Two MSAs along Florida's southeastern coast also posted significant sales increases: the West Palm Beach-Boca Raton-Delray Beach MSA -- 44 percent and the Fort Lauderdale-Hollywood-Pompano Beach MSA -- 33 percent. "The real estate market in Southeast Florida has experienced tremendous growth this year. First-time and move-up buyers continue to enter the market at a record pace," said Dale G. Jundt, FAR president and a broker with AAA Realty in Fort Lauderdale.
 Resales in the Sarasota MSA increased 27 percent during October 1993 compared to October 1992. According to Roger Cramer, a branch manager with Coldwell Banker and FAR's district vice president, all segments of this area's real estate market are strong. "Consumers seem to have more confidence in the economy and they are recognizing that they must satisfy their housing needs while interest rates are favorable," he said.
 Sales of single-family, existing homes rose 20 percent in the Lakeland-Winter Haven MSA, coupled with a 19 percent increase in the median sales price. The median sales price is the midpoint in the price range; half the homes sold for more and half sold for less.
 Ed Collins, president of the Lakeland Association of Realtors and a broker with Pilot Realty, believes the driving force for the increase in sales is low interest rates. Collins reports seeing many out-of-town buyers and retirees relocating to the area. Another factor is the city's affordable housing program, known as the Keystone Challenge Fund. In addition to providing financing alternatives, the program offers educational courses, before and after the home sale, that teach potential buyers how to manage finances with a home mortgage and how to be responsible homeowners.
 Other noteworthy increases across the state include: Gainesville MSA -- 20 percent, Tampa-St. Petersburg-Clearwater -- 19 percent, Pensacola -- 18 percent and Orlando -- 17 percent.
 The following charts show statistics for 18 of Florida's MSAs. The first chart compares the number of single-family, existing homes sold by Realtors during October 1993 compared to October 1992. The second chart compares median sales 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.
 SINGLE-FAMILY EXISTING HOMES
 REALTOR SALES
 1992 October 1993 October Pct. Change
 STATEWIDE
 Florida 7,573 9,181 21 pct.
 Metropolitan
 Statistical
 Areas
 Bradenton 108 101 - 6 pct.
 Daytona Beach (A) 166 187 1 pct.
 Fort Lauderdale-
 Hollywood-Pompano
 Beach 864 1,149 33 pct.
 Fort Myers-
 Cape Coral 247 253 2 pct.
 Fort Pierce 153 161 5 pct.
 Gainesville 120 144 20 pct.
 Jacksonville 505 577 14 pct.
 Lakeland-Winter
 Haven 135 162 20 pct.
 Melbourne-
 Titusville-Palm
 Bay 338 348 3 pct.
 Miami-Hialeah 595 936 57 pct.
 Naples 77 75 - 3 pct.
 Ocala 131 151 15 pct.
 Orlando 792 923 17 pct.
 Pensacola 275 324 18 pct.
 Sarasota 311 394 27 pct.
 Tallahassee 155 128 - 17 pct.
 Tampa-St. Petersburg-
 Clearwater 1,567 1,871 19 pct.
 West Palm Beach-
 Boca Raton-Delray
 Beach 542 778 44 pct.
 SINGLE-FAMILY EXISTING HOMES
 MEDIAN SALES PRICE
 1992 October 1993 October Pct. Change
 STATEWIDE
 Florida $83,100 $86,900 5 pct.
 Metropolitan
 Statistical
 Areas
 Bradenton $77,600 $87,800 13 pct.
 Daytona Beach (A) $70,500 $81,500 16 pct.
 Fort Lauderdale-
 Hollywood-Pompano
 Beach $102,000 $102,100 0 pct.
 Fort Myers-Cape
 Coral $78,800 $83,300 6 pct.
 Fort Pierce $80,000 $77,100 - 4 pct.
 Gainesville $83,100 $86,100 4 pct.
 Jacksonville $80,000 $82,500 3 pct.
 Lakeland-Winter
 Haven $59,000 $70,000 19 pct.
 Melbourne-Titusville-
 Palm Bay $74,600 $76,800 3 pct.
 Miami-Hialeah $96,800 $96,900 0 pct.
 Naples $140,000 $157,800 13 pct.
 Ocala $60,000 $64,400 7 pct.
 Orlando $88,300 $89,500 1 pct.
 Pensacola $70,500 $80,000 13 pct.
 Sarasota $91,900 $98,900 8 pct.
 Tallahassee $90,700 $96,200 6 pct.
 Tampa-St. Petersburg-
 Clearwater $72,200 $76,600 6 pct.
 West Palm Beach-
 Boca Raton-Delray
 Beach $115,400 $118,700 3 pct.
 (A) -- Daytona Beach MSA information does not include Deland.
 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.
 -0- 11/29/93
 /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, Florida Association of Realtors, 407-438-1400, ext. 2314/


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

AW-RK -- FL004 -- 8212 11/29/93 11:03 EST
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