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THE PRUDENTIAL FLORIDA REALTY RECORDS 18 PERCENT SALES GROWTH

 THE PRUDENTIAL FLORIDA REALTY RECORDS 18 PERCENT SALES GROWTH
 CLEARWATER, Fla., July 22 /PRNewswire/ -- The Prudential Florida Realty continues to build its sales momentum.
 Through six months of 1992, Florida's largest independent real estate services firm recorded an 18 percent increase in gross sales volume to more than $1.667 billion, compared to $1.410 billion through the first half of 1991.
 The company handled 11,758 units during the first half of 1992, 23 percent more than the prior year, when it handled 9,540 units.
 The company is on track to reach, or exceed, its 1992 sales goal of $3 billion in gross sales volume.
 The Prudential Florida Realty's sales gains are the result of a number of internal and external factors.
 "We're seeing buyers and sellers take a more realistic look at the market," said Richard W. Cope, chairman and chief executive officer of The Prudential Florida Realty. "That's helped to increase sales activity. As important, we've been investing in new information systems, acquiring real estate firms and aggressively recruiting seasoned sales associates and that's helped us to gain market share in Florida."
 The Prudential Florida Realty posted an 8 percent increase in gross sales volume for the second quarter of 1992 over the first quarter of 1992. The Prudential Florida Realty's gross sales volume increased to $864 million from $803 million the prior fiscal quarter. Units sold remained relatively stable at 5,903 for the second quarter and 5,855 for the first quarter of 1992.
 The number of listings secured decreased for The Prudential Florida Realty, reflecting a reduction in the total inventory of Florida properties being marketed.
 "The real estate market has been steadily improving," Cope said. "It's a different kind of recovery than we've seen after prior recessions. Buyers and sellers are extremely realistic about market conditions and properties are priced to move. As a result, we've been successful in working off excess inventory, which should reduce time on market for homes currently listed."
 The Prudential Florida Realty is Florida's largest independent real estate brokerage, with 64 offices throughout the state. More than 2,600 licensed sales associates generated $2.90 billion in sales in 1991. The company has more than 300 employees.
 -0- 7/21/92
 /CONTACT: Linda Burger of The Prudential Florida Realty, 813-442- 4111; or Robert Kneeley of Robert Kneeley, 305-493-8220, for The Prudential Florida Realty/ CO: The Prudential Florida Realty ST: Florida IN: SU:


SS-JB -- FL003 -- 1665 07/22/92 08:03 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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