Sales of single-family homes and condominiums are seeing considerable rebounds following the shutdowns that complicated spring transactions. Florida’s median home prices also continued its upward streak for a 103rd straight month during July, based on Florida Realtors’ monthly report.

The closing sales of 31,000+ Florida single-family homes in July was an improvement over just over eleven percent compared to July of last year, the best monthly result for this category of property since the rise in January of nearly twenty percent. While year-to-date single-family home sales for 2020 are down a mere four percent versus 2019, year-to-date sales in April dropped to 35 percent.

Pending single-family homes sales in Florida for new property increased by just over 21 percent versus July 2019, the second consecutive month with substantial year-over-year increases; new pending single-family homes sales rose by more than 23 percent in June.

Higher-priced market areas that normally slow this time of year are remarkably active due to spring shutdowns pushing their peak sales seasons back. However, home prices in Florida are likely to continue to grow.

This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on Florida hard money lending, please call 954-816-0388 or fill out our application.