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THE PRUDENTIAL FLORIDA REALTY SALES INCREASE BY 7 PERCENT STATEWIDE

 THE PRUDENTIAL FLORIDA REALTY SALES INCREASE BY 7 PERCENT STATEWIDE
 CLEARWATER, Fla., Oct. 29 /PRNewswire/ -- The Prudential Florida Realty continues to record residential real estate sales increases. Through the first nine months of 1992, Florida's largest independent real estate services company posted gross sales volume of $2.37 billion, a 7 percent increase over $2.21 billion for the comparable period of 1991.
 Through Sept. 30, 1992, the company's unit volume increased by 12 percent to 16,891, from 15,071 in 1991. The number of listings secured changed by less than 1 percent to 19,168 versus 19,324.
 "A slight increase in mortgage rates actually boosted residential real estate sales," said Richard W. Cope, chairman and chief executive officer. "Generally low consumer confidence and the uncertainties surrounding the national elections continues to keep some buyers out of the market."
 The aftermath of Hurricane Andrew also impacted the company's third quarter sales. Dade County sales activities account for approximately 15 percent of the company's operation. That division reported similar sales volume for the third quarter of 1992 as 1991.
 As a result, The Prudential Florida Realty posted a gain of only 2 percent for the third quarter of 1992 vs. 1991. For the quarter, The Prudential Florida Realty had system-wide gross sales volume of $702.8 million, compared to $689.0 million in the third quarter of 1991. Unit sales during the third quarter increased by 7 percent to 5,133, compared to 4,773 in the 1991 third quarter.
 The Prudential Florida Realty is Florida's largest independent real estate services company, 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- 10/29/92
 /CONTACT: Linda Burger of The Prudential Florida Realty, 813-442-4111; or Robert Kneeley of Robert Kneeley & Co., 305-493-8220, or evening, 305-583-9282, for The Prudential Florida Realty/ CO: The Prudential Florida Realty ST: Florida IN: SU:


JB-JJ -- FL015 -- 6752 10/29/92 16:15 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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