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For Immediate Release                    
June 19, 2009
 
Contact: Melanie Green, Communications Director
MGreen@NEFAR.org
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025
www.NEFAR.com
 
NEFAR Announces May 2009 Housing Sales Statistics
Pending sales continue to outperform prior year; sales of foreclosures/short sales rise.
 
JACKSONVILLE, FL - The Northeast Florida Association of Realtors (NEFAR) announces real estate market statistics for May 2009.

Pending sales in May continue to be greater than the corresponding month last year - 1,523 in 2009 versus 1,274 in 2008, or a 19.5 percent increase. Conversely, closed sales in May 2009 (1,136) lag 9.1 percent behind the 1,250 figure in May 2008.

Sales of foreclosures and short sales have more than tripled in the past year, skewing the overall median price down. For sales that are not foreclosures/shorts sales - referred to as traditional sales - the median price in May 2009 was $182,500, down only 6.4 percent from a year ago.

The Housing Affordability Index of 151 in May is 32.8 percent higher than two years ago, and means that the median household income in the region is 151 percent of what is necessary to qualify for the median priced home.

These figures, along with many others, are included in the FREE statistics packages available on the Newsroom | Market Stats tab of www.NEFAR.com. The statistics packages include a monthly report summarizing all activity for NEFAR's entire service area plus *partial information for St. Johns County and Nassau County. FREE foreclosure/short sale reports are also available in the same area of the site.

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. All statistics in NEFAR's market and foreclosure/short sale reports are based on data compiled from NEFAR's wholly owned subsidiary, the Northeast Florida Multiple Listing Service (NEFMLS).

* 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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