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- New
home sales in U.S. shoot up to record high in March By
MARTIN CRUTSINGER
- South Florida
home prices take another leap By Alexandra Navarro Clifton
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New home sales in U.S. shoot up to record high in March
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By MARTIN CRUTSINGER
Associated Press
April 26, 2005, 10:24 AM EDT
WASHINGTON -- Sales of new homes shot up 12.2 percent in March
to a record high as the nation's housing market continued to soar
despite rising mortgage rates.
The Commerce Department said Tuesday that new single-family homes
were sold at a seasonally adjusted annual rate of 1.43 million
units in March, confounding the consensus forecast of a small
decline in sales in March, a month when mortgage rates had been
inching higher.
Instead, sales climbed to an all-time high, surpassing the old
mark of 1.3 million units at an annual rate last October. Sales
of both new and existing homes have set new records for four straight
years, but analysts are expecting demand to cool off a bit in
2005 as mortgage rates climbed higher.
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South Florida home prices take another leap
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By Alexandra Navarro Clifton
Sun-Sentinel
April 26, 2005, 8:44 AM EDT
Buying a home in South Florida got even more expensive last month.
Taking advantage of low mortgage rates, buyers continued to flood
the market, but they had to scramble to find homes in a shrinking
inventory.
Palm Beach County was the second-priciest place in the state --
behind Naples -- to buy a home, as the median price hit $371,500,
a 37 percent jump over last year. In Broward, prices were up 31
percent, to $332,400. In Miami-Dade County, the median price --
the level at which half the homes are more expensive and half
are less expensive -- was $322,300, a 40 percent increase over
last year. The numbers do not include condominiums, townhouses
or new construction.
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