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News Release

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For Immediate Release                    
March 18, 2009
 
Contact: Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025
www.NEFAR.com
 
NEFAR Releases February 2009 Real Estate Statistics
Housing affordability index up; new listings down from February 2008.
 
JACKSONVILLE, FL - The Northeast Florida Association of Realtors (NEFAR) announces real estate statistics for February 2009, based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS).

Closed sales for the month are right on target with last year (873 in Feb. 2008 and 866 in Feb. 2009). Pending sales are similarly close - 1,208 in Feb. 2008 and 1,036 in Feb. 2009.

The Housing Affordability Index (HAI), however, is on the upswing, from 137 last year to 158 this year. The upward trend in HAI mirrors the declining prices of homes.

The number of total active listings during February is down more than 14 percent from last year. There were 18,853 active listings in Feb. 2008 versus 16,132 total active listings in Feb. 2009.

These figures, along with numerous others, are included in the FREE February 2009 statistics package available on the Newsroom | Market Stats tab of www.NEFAR.com. 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 5,500 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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