This week, the Palm State Mortgage Company blog will concern matters of the general economy in Florida. We do not believe mortgages exist in a vacuum, but within a framework of a healing economy. Today, we are proud to agree with the facts and figures recently released by the Florida Realtors. The experts stated that the middle range price for “existing-home sales in Florida last month was up 10.3 percent from a year earlier.”

Palm State Mortgage thinks this is good news for house hunters, realtors and mortgage lenders.

Let’s see how specific areas of our state housing sales  are improving: Orlando reported 12.7 percent increase in home sales. Palm State Mortgage also learned that Miami-Dade county’s median price has climbed up 13 percent from a year earlier. The Tampa-St.Petersburg area, has risen by a respectable 7 percent. (We invite you to read more factual details on real estate sales  by clicking  on the Orlando Sentinal Newspaper .)

What do all these percentages mean? We believe that Florida is recovering from the recent real estate slump. Proof resides in the fact that Florida now has a a 5.9-month supply of single-family homes. Plus the state has an estimated six-month supply of condos and town homes.

Orlando has a 3.7-month supply of houses listed for sale and a 2.8-month inventory of condos and town homes.  Orlando wins the gold for better statistics, but the real winners are citizens across the state Florida.  For more detailed facts and figures, we refer you to this excellent source.

Florida’s Realtors President, Summer Greene, explained four points that have created a new optimism among Floridians:

1. There has been a steep decline of inventory. (This means we are beginning to see a higher demand for houses vs. the available ones.)

2. We have low interest rates.

3. Home buyers are regaining enough faith in the economy that they are “not willing to wait on the sidelines.”

4. In the final analysis, he concluded that “Florida’s real estate market continues on its road to recovery.”

Summer Greene added that, according to Florida Realtors, “the latest numbers show that pending sales are up almost 30 percent for single-family homes and almost 20 percent for town homes and condos.” We uncovered more signs of a brightening economy from the pages of the Orlando Business Journal. Statistics show that the Orlando-Kissimmee-Sanford metro area gained 8,600 jobs over the year. Statewide , experts are saying that Florida unemployment has dropped to 9.0 percent. More details and statistics are available with a visit to this reliable source. Florida employment has been improving for 20 consecutive months. The Department of Economic Opportunity reports a state-wide increase of 10,800 jobs.

We of the Palm State Mortgage Company look forward to sharing an ever brightening future, and helping our clients and friends attain new real estate goals. We promise to appraise you of new statistics as the days of 2012 continue to restore our economy to health.