According to the latest report from the Florida Association of Realtors the existing homes sales in Florida have increased 24% in January.  This marks the fifth consecutive month with an increase in home activity. 

8,480 existing homes were sold in January 2009, an increase of 24% from homes sold in January 2009 according to the FAR report, Miami reported a 47 percent hike in the number of existing home sales, to 407 from 276. The median price, however, fell 38 percent, to $208,100 from $336,800.

Condo sales are also up 13% statewide.  In Miami, condo sales were up 27 percent, to 379 units from 298. The median price fell 48 percent, to $149,100 from $284,000.

“It appears some buyers are taking advantage of much lower home prices,” NAR Chief Economist Lawrence Yun said. “The higher monthly sales gain and falling inventory are steps in the right direction, but buyers will continue to have an edge over sellers for the foreseeable future.”