Tampa Bay Business Journal - 2:52 PM EST Monday
In the third quarter of 2006, Florida’s housing sector continued to mirror the national trend, showing higher inventory levels of homes available for sale in many markets and a slowdown in sales.

Across the state, sales of single-family existing homes totaled 43,395 during the three-month period, a decrease of 34 percent compared to 65,364 homes sold during the same time a year ago, according to the Florida Association of Realtors. The statewide existing-home median sales price remained stable at $247,900 in the third quarter; a year ago, it was $247,800. At the end of the second quarter of 2006, it was $254,800.

Housing in Tampa Bay is doing slightly worse, with sales declining 43 percent, to 8,009, from a year ago and 21 percent from last month’s 10,187. The median price increased 8 percent, to $234,000, from a year ago, and 1 percent from last month’s $232,200.

Tampa Bay’s prices peaked in June at $239,600.

In a new survey conducted by the University of Florida’s Center for Real Estate Studies, the threat of spiraling insurance rates was mentioned as the biggest concern, followed by the softening housing market as the second most-mentioned trend.

Still, even if a sharp downturn in the housing market occurs as some analysts predict, Florida will be less affected by it than other states because of the insulating effect of its high population growth rate, said Dr. Wayne Archer, director of UF’s Center for Real Estate Studies, in a release.

National Association of Realtors’ latest economic outlook calls for existing-home sales to be fairly stable in the fourth quarter, with 2006 expected to be the third strongest year for sales after consecutive records in 2004 and 2005.

Looking at Tampa Bay’s condominium market, sales decreased 46 percent from the same period last year, with median prices slipping by 2 percent to $165,400.

The Florida Association of Realtors provides programs, services, continuing education, research and legislative representation to its more than 155,000 members in 68 boards/associations.

The Denver Business Journal - 12:28 PM MST Wednesday

A sluggish market led to a dip in Denver metro-area housing starts during the third quarter of 2006, according to a report by Metrostudy’s Denver division.

Denver area third-quarter housing starts fell 22 percent from the same period last year, from 4,889 new homes to 3,830. The year-to-date rate through the third quarter declined 3 percent, from 19,568 in 2005 to 18,908 in 2006.

The Houston-based housing market research firm found that Douglas County led metro-area counties in new home starts, although the year-to-date amount was still down 14 percent from the same time last year, to 4,236 units.

Jefferson and Adams counties reported declines of 19 percent and 17 percent, with 1,479 and 3,433 starts, respectively. Arapahoe County posted a 4 percent increase in activity due to continued growth in southeast Aurora.

Inventory continues to climb, with 31,450 homes on the market at the end of September — an increase of 16 percent compared to the same time last year. Still, prices remain high, with 54 percent of new homes falling in the $200,000-to-$350,000 range. Homes priced above $500,000 made up 14 percent of the market.

“Housing in Denver appears to be more stable than in many other Western markets. However, consumer financial stress has increased, and many potential home buyers are worried about high foreclosure rates or are waiting for the market to normalize,” said John Covert, director of Metrostudy’s Denver division, in a statement. “These factors have led to softening demand and increased levels of both existing and new home inventory.”