Year-over-year home sales improve in Florida

People relocating to the Sunshine State have driven up the state's home sales figures for almost two straight years.

Florida has experienced 22 straight months of year-over-year home sale increases, reported Florida Realtors. Single-family homes and condominiums have been particularly popular among homebuyers. June brought the sale of 18,038 single-family units compared to 15,732 in June 2009, and 6,916 condos were sold that month over 5,215 from a year earlier, said the report. Statewide, home sales increased 7.7 percent from May to June, and median home prices have gone up for four straight months.

Most of the state's metropolitan statistical areas have reported increased sales for 24 straight months, said the Realtors. The Tampa-St. Petersburg-Clearwater area had a particularly strong month in June, with year-over-year home sales climbing 13 percent. Condo sales jumped up 36 percent from a year earlier, the report added.

Florida doesn't levy a state income tax, which could be a big reason why so many people find the state a desirable location to move to. According to Forbes, Collier County is attracting the country's wealthiest residents because of its appealing cost of living and lack of an income tax.


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