Home Sellers See Flat Summer

Insurance could prove dark cloud for housing sales

According to the PNJ housing sales and prices in Escambia and Santa Rosa counties held steady through the summer months, but are down sharply from a year ago, based on recent data from Metro Market Trends. August's new-home sales numbers in Escambia, for example, were down by nearly 50 percent over the same month in 2005, while total resales of existing homes dropped by 25 percent.

Despite the year-to-year drop, August sales numbers and prices were little changed from June and July figures. And that's good news for sellers, MMT co-owner Al Muller said. His company's research of all homes sold in the two-county area shows median home prices have leveled off since March and remain stubbornly high, despite a sluggish buying market. Muller said the median price for new and resale homes has flattened out at $133,000, after bottoming at about $90,000 in January 2005. Carlton Proctor - PNJ

Where are the buyers? Are the houses still overpriced? Is the current economic uncertainty prohibiting people from moving forward with home ownership? Let's discuss the current housing situation.