Florida metro areas report March home sales gains

Maintaining a multimonth winning streak, 15 of 20 Florida metro areas reported gains in single-family home sales over the past year. The Tampa Bay area was no exception. Local sales rose 16 percent from March 2008 to March 2009, from 1,974 a year ago to 2,292 this year. The median sales price in Pinellas, Pasco, Hillsborough and Hernando counties declined 24 percent, falling from $178,300 to $135,800 year over year. Realtors attributed the sales rise to entry-level buyers scarfing up bargains. Sales of distressed properties — those in or heading toward foreclosure — accounted for one-third to one-half of transactions. Worried about perceptions of never-ending home price slides, the National Association of Realtors on Thursday labeled foreclosure sales "distortions" of the market. Realtors estimated that bank-owned homes sell for two-thirds the price of conventional sales.

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