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FLORIDA HOME SALES JUMP 16.53 PERCENT IN MAY

 ORLANDO, Fla., June 25 /PRNewswire/ -- State sales of single-family existing homes rose 16.53 percent in May 1993 compared to May 1992 according to the Florida Association of Realtors (FAR). This accelerations follows a seven percent increase in April and a 17 percent increase in the first quarter over year-ago figures.
 FAR President Dale G. Jundt noted, "The sales surge in May shows that consumers understand what a difference today's interest rates make when it comes to buying a home."
 Four metropolitan statistical areas (MSAs) posted significant increases in May 1993 compared to May 1992: Ocala, West Palm Beach-Boca Raton-Delray Beach, Fort Lauderdale-Hollywood-Pompano Beach and Naples.
 The greatest increase in single-family home sales activity, 38.98 percent, occurred in the Ocala MSA. This figure, along with the 50 percent increase in April and the 60 percent increase in the first quarter, reflects industry growth in the area. Two of Ocala's largest industrial employers are expanding according to Fred Wright, president of the Ocala/Marion County Association of Realtors.
 For the seventh consecutive month, the West Palm Beach-Boca Raton- Delray Beach MSA recorded significant increase: 37.16 percent. While many analysts have attributed previous months' activity to buyers moving out of Dade County after Hurricane Andrews, this activity seems to be cause by the improved economy in the Northeastern U.S. -- as vacationers buy second homes -- along with the stable Florida economy.
 Sales in the Fort Lauderdale-Hollywood-Pompano Beach MSA jumped 19.88 percent which is especially significant considering the volume of homes that sold: 168 more in May 1993 than May 1992.
 The median sales price for existing homes in the Naples MSA rose 53.85 percent to $200,000. The median price is the midpoint in the price range; half the homes sold for more and half sold for less. A median price shift as seen this month indicates the higher-end buyers were active.
 Sales in the Bradenton MSA decreased 40.12 percent this May over last May. A fluctuation of this size in this area does not necessarily indicate a downward trend. Due to the small volume of home sales in this MSA, sales of 50 homes are enough to cause such a percentage change. Evidence of this volatility was seen last month when the Bradenton MSA experienced a 40 percent increase in sales over April 1992.
 The median sales price for single-family existing homes in the Bradenton MSA dropped 39.98 percent this month over year-ago figures. Although this may seem significant, the usual median sales price for this area is $80,000. May 1992 was an unusual month for this MSA during which numerous higher-priced homes sold, so compared to year-ago figures, this month's median sales price of $80,000 seems low.
 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 May 1993 vs. May 1992. The second 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.
 MAY SINGLE-FAMILY EXISTING HOME SALES ACTIVITY
 REALTOR Sales Only May 1993 vs.
 Metropolitan Statistical May 1992
 Areas (MSAs) May 1992 May 1993 Pct. Change
 Bradenton 167 100 - 40.12
 Daytona Beach 313 298 - 4.79
 Fort Lauderdale-
 Hollywood-Pompano
 Beach 845 1,013 19.88
 Fort Myers-
 Cape Coral 333 345 3.60
 Fort Pierce 164 160 - 2.44
 Gainesville 157 149 - 5.10
 Jacksonville 566 465 - 17.84
 Lakeland-
 Winter Haven 157 175 11.46
 Melbourne-
 Titusville-Palm Bay 316 300 - 5.06
 Miami-Hialeah 909 883 - 2.86
 Naples 84 68 - 19.05
 Ocala 118 164 38.98
 Orlando 749 839 12.02
 Pensacola 299 280 - 6.35
 Sarasota 329 331 0.61
 Tallahassee 176 142 - 19.32
 Tampa-St. Petersburg-
 Clearwater 1,599 1,767 10.51
 West Palm Beach-
 Boca Raton-Delray
 Beach 514 705 37.16
 MAY SINGLE-FAMILY EXISTING HOME MEDIAN SALES PRICES
 REALTOR Sales Only May 1993 vs.
 Metropolitan Statistical May 1992
 Areas (MSAs) May 1992 May 1993 Pct. Change
 Bradenton $133,300 $80,000 - 39.98
 Daytona Beach 65,300 67,400 3.22
 Fort Lauderdale-
 Hollywood-Pompano
 Beach 98,400 99,600 1.22
 Fort Myers-Cape
 Coral 86,600 82,600 - 4.62
 Fort Pierce 74,400 78,400 5.38
 Gainesville 83,800 87,800 4.77
 Jacksonville 78,400 73,700 - 5.99
 Lakeland-Winter
 Haven 68,300 70,000 2.49
 Melbourne-Titusville-
 Palm Bay 69,300 74,900 8.08
 Miami-Hialeah 101,300 100,000 - 1.28
 Naples 130,000 200,000 53.85
 Ocala 62,600 56,700 - 9.42
 Orlando 87,700 89,800 2.39
 Pensacola 68,300 69,400 1.61
 Sarasota 88,300 89,400 1.25
 Tallahassee 80,800 87,100 7.80
 Tampa-St. Petersburg-
 Clearwater 72,900 72,100 - 1.10
 West Palm Beach-
 Boca Raton-Delray
 Beach 118,600 107,500 - 9.36
 Based on a survey of MLS sales levels from Florida's Realtor Boards/Associations. MSAs defined by the 1980 Census. Source: Florida Association of Realtors.
 -0- 6/25/93
 /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:

RC-JB -- FL003 -- 5637 06/25/93 10:02 EDT
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Date:Jun 25, 1993
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