Florida’s housing sector continued to show signs of market adjustments in April as mortgage rates edged up and the inventory of homes available for sale remained at higher levels in many markets. Statewide, the existing-home median price rose 13 percent to $249,700 last month; a year ago, it was $221,100, according to the Florida Association of Realtors® (FAR). A total of 16,392 existing single-family homes sold statewide last month, a decrease of 31 percent from the 23,844 homes that changed hands during the previous April, according to FAR.

“The single-family existing-home market has eased its pace, but the market is returning to a more normal balance after a long run of record sales and low inventory,” says Beverly Pindling, president of the Orlando Regional Realtor Association and broker-partner of Orlando Real Estate Professionals. “With economists predicting the national housing market to be the third-best ever (below 2005 and 2004), by comparison this confirms that Orlando remains a very strong local market. Our condo market offers many homeownership opportunities priced under $200,000, which helps to meet the challenge of getting more people into their first home.”

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