Construction and Real Estate Sections Summary Single-Family Residential: Home Sales Single-Family Residential: Construction Multifamily Residential Nonresidential

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Data Sources on the Web Florida Association of Realtors Greater Nashville Association of Realtors National Association of Realtors SmartNumbers U.S. Census Bureau

Data

Florida's Existing Condominium Market Enlarge Source: Florida Association of Realtors

Data

Multifamily Permit Growth Enlarge Source: U.S. Census Bureau

According to data from the National Association of Realtors, January sales of existing condos in the South Census region declined sharply on a year-over-year basis, down 33.7 percent, while the median home price moved closer to the year-earlier level, down 1.0.

According to data from the Florida Association of Realtors, condominium sales declined 30.2 percent in January compared with a year earlier following a 31.2 percent decline in December. The median home price declined 11.1 percent in January measured year-over-year following a 7.6 percent decline the prior month.

Data from SmartNumbers indicate that existing condominium sales in Atlanta slowed significantly during December, down 26.9 percent on a year-over-year basis following a 12.7 percent decline in November. The median home price declined slightly during December compared with a year earlier. New condominium sales declined 48.0 percent in November while the median home price remained positive, up 4.1 percent compared with a year earlier.

According to data from the Greater Nashville Association of Realtors, new and existing condominium sales remained weak during February, down 24.9 percent on a year-over-year basis but recovering somewhat from the January year-over-year decline of 34.5 percent.

Based on U.S. Census Bureau figures, overall District multifamily permits have changed little in recent months. However, during January weakness has emerged in areas outside of Florida.

District commercial contractors reported that condominium development was down significantly from a year earlier during January and February while apartment development was flat to slightly up. A Florida developer reported that no new condominium projects are likely to start and that all current work is completing a backlog.