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FLORIDA HOME SALES SOAR 33 PERCENT IN THIRD QUARTER; 14 OUT OF 15 MSAs INCREASE OVER 20 PERCENT

 ORLANDO, Fla., Nov. 12 /PRNewswire/ -- State sales of single-family, existing homes rose 30 percent during the third quarter of 1993 compared to the third quarter of 1992, according to the Florida Association of Realtors (FAR). Fourteen out of 15 Metropolitan Statistical Areas (MSAs) recorded gains over 20 percent.
 "Low interest rates have enhanced the market for first-time homebuyers. But more than that, we're seeing overall growth in Florida's real estate market. When all large MSAs and most small MSAs show significant increases, as seen this quarter, the activity must be attributed to market growth -- not simply to low interest rates," says FAR President Dale G. Jundt.
 The highest increase occurred in the Miami-Hialeah MSA where sales of single-family, existing homes rose 50 percent. Although a significant jump was expected in this area since the third quarter of 1992 was affected by Hurricane Andrew, the magnitude of this increase was not anticipated. It indicates that, beyond hurricane-related sales, the housing market in this area is improving. Local Realtors report that the move-up-buyer market has been active. "Many buyers are taking advantage of the low interest rates and the profits made from selling their rebuilt homes, and now they're upgrading," according to Terri Kolaska, vice president of Kolaska Associates, Inc. and FAR's district vice president.
 The West Palm Beach-Boca Raton-Delray Beach MSA recorded a 44 percent increase in sales over the third quarter of last year. Local realtors report having worked with many buyers moving into the area from South Florida.
 In the Fort Lauderdale-Hollywood-Pompano Beach MSA, sales of single- family, existing homes rose 40 percent during the same time period, and the median sales price rose 6 percent. The median sales price is the mid-point in the price range; half the homes sold for more and half sold for less. Realtors in this area are also seeing many buyers moving from the hurricane-affected area in South Florida, and they report seeing people moving out of condominiums and into houses.
 The Ocala MSA experienced a 29 percent increase in sales coupled with a 6 percent rise in the median sales price during the third quarter of 1993 compared to the same time last year. As businesses expand and the cost of living remains low, out-of-town buyers are coming to the area and renters are purchasing.
 Single-family, existing home sales in the Orlando MSA jumped 24 percent which is especially significant when considering this MSA's size. Sales in another large MSA, the Tampa-St. Petersburg-Clearwater MSA, rose 21 percent.
 A chart showing statistics for 15 of Florida's MSAs is attached. The center column compares the number of single-family existing homes sold by realtors during the third quarter of 1993 to the third quarter of 1992. The right-hand column 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 3rd Qtr. 1993 3rd Qtr. Pct. Change
 STATEWIDE
 Florida 161,200 213,700 33 pct.
 Metropolitan
 Statistical
 Areas
 Bradenton 1,600 2,200 38 pct.
 Daytona Beach (A) 7,100 8,600 21 pct.
 Fort Lauderdale-
 Hollywood-Pompano
 Beach 11,300 15,800 40 pct.
 Fort Myers-
 Cape Coral 5,800 7,000 21 pct.
 Fort Pierce 4,200 5,200 24 pct.
 Jacksonville 12,600 15,200 21 pct.
 Melbourne-
 Titusville-Palm
 Bay 9,600 10,400 8 pct.
 Miami-Hialeah 9,200 13,800 50 pct.
 Naples 900 1,100 22 pct.
 Ocala 2,800 3,600 29 pct.
 Orlando 22,600 28,000 24 pct.
 Sarasota 5,500 6,900 26 pct.
 Tallahassee 800 1,100 38 pct.
 Tampa-St. Petersburg-
 Clearwater 41,600 50,300 21 pct.
 West Palm Beach-
 Boca Raton-Delray
 Beach 9,500 13,700 44 pct.
 SINGLE-FAMILY EXISTING HOMES
 MEDIAN SALES PRICE
 1992 3rd Qtr. 1993 3rd Qtr. Pct. Change
 STATEWIDE
 Florida $83,700 $87,100 4 pct.
 Metropolitan
 Statistical
 Areas
 Bradenton $86,900 $86,900 0 pct.
 Daytona Beach (A) $70,700 $72,100 2 pct.
 Fort Lauderdale-
 Hollywood-Pompano
 Beach $99,400 $105,100 6 pct.
 Fort Myers-Cape
 Coral $83,400 $85,700 3 pct.
 Fort Pierce $78,000 $81,300 4 pct.
 Jacksonville $81,200 $81,600 1 pct.
 Melbourne-Titusville-
 Palm Bay $74,700 $78,500 5 pct.
 Miami-Hialeah $97,300 $99,400 2 pct.
 Naples $152,900 $133,700 - 13 pct.
 Ocala $56,700 $60,200 6 pct.
 Orlando $87,300 $91,200 5 pct.
 Sarasota $93,300 $94,200 1 pct.
 Tallahassee $90,000 $92,700 3 pct.
 Tampa-St. Petersburg-
 Clearwater $73,800 $76,900 4 pct.
 West Palm Beach-
 Boca Raton-Delray
 Beach $120,300 $119,900 0 pct.
 (A) -- Daytona Beach MSA information does not include Deland.
 Numbers are seasonally adjusted and annualized.
 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- 11/12/93
 /NOTE TO EDITOR: You may wish to use this release in tandem with today's release from the National Association of Realtors. Please note that their statistics include single-family homes, apartment condos and co-ops. The statistics include single-family homes only./
 /CONTACT: Jeff Zipper, vice president, communications, Florida Association of Realtors, 407-438-1400, ext. 2314/


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

RK-SS -- FL001 -- 3529 11/12/93 08:49 EST
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Date:Nov 12, 1993
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