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For Immediate Release                    
Feb. 16, 2009
Contact: Melanie Green, Communications Director
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR Releases January 2009 Real Estate Statistics
Home sales in northeast Florida region posts second consecutive month of increase compared to a year ago.
JACKSONVILLE, FL - The Northeast Florida Association of Realtors (NEFAR) announces real estate statistics for January 2009, based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS).

Home sales in the Northeast Florida region posted their second consecutive month of increase compared to a year ago. January saw 1,060 newly signed purchase agreements (pending sales), up a healthy 19.5 percent from one year ago. The Housing Affordability Index (HAI) rose nine points; up from 149 percent in December to 158 in January. The upward momentum of HAI, a reflection of soft housing prices, signals an increase in affordability for buyers in northeast Florida. Based on January's increase in pending sales, it appears that the continuing low mortgage rates and improved affordability are enticing new buyers.

Housing supply is on the decline. There were 3,010 new listings in January, which is 22.6 percent behind last year. The total number of houses for sale has dropped over 3,000 units from one year ago. This is good news for an oversupplied market.

These figures, along with numerous others, are included in the FREE January 2009 statistics package available via the following link: Jan. 2009 housing sales statistics. NEFAR's monthly statistics packages are also posted on our website, www.NEFAR.com, under the Newsroom | Market Stats tab. The monthly report includes a 15-page summary of real estate activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. Following the summary information is Local Market Updates for 28 submarkets within the region.
The Northeast Florida Association of Realtors is headquartered in Jacksonville with satellite service centers in Orange Park, Jacksonville Beach and Palatka. NEFAR is the largest professional/trade association in northeast Florida, serving more than 6,800 Realtor and affiliate/business partner members in Duval, Clay, Putnam and St. Johns counties.

* As all Nassau and St. Johns County Realtors are not participants of the NEFMLS; reports provided do not represent the full extent of Realtor sales in those counties.
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