After a week off for Thanksgiving I have plenty of good news to report since my last update. Last week, the National Association of Realtors reported that, for the month of October, existing home sales surged 10.1% to a seasonally adjusted annual rate of 6.1 million units – far exceeding the 5.7 million units most economists expected. Also last week, the S&P Case/Schiller Home Price Index showed that home prices nationwide rose 3.1% in the third quarter, matching a 3.1% increase in the second quarter and marking the second consecutive quarter prices have risen. In a similar report of local interest – the Florida Association of Realtors reported that Panama City Beach condo prices actually rose 3% in October over 2008, the first increase this year, and sales of condos were up 88% in October ’09 over ’08.
PCBDaily 