June Home Sales in Palm Beach & Broward Counties are Up

Nationally, home sales nationally declined in June following the April 30 expiration of federal tax credits. However, that is not the case in South Florida.

Broward County reported 844 sales of existing homes last month, up 15% from May, the Florida Realtors said Thursday. In Palm Beach County, 1,087 homes were sold, a 23% increase from May.

While the June figures were surprising, industry analysts expect the end of the tax credits and a lack of job growth to hurt housing demand in the second half of the year.

Compared with a year ago, Broward sales declined 2%, while Palm Beach County had a 27% increase. Median prices in the two counties were mostly down but remained stable. Broward’s median in June was $209,600, down slightly from May but up 2% from a year ago.Palm Beach County’s median was $232,700, down from May and off 7% from June 2009.