Broward single-family home sales rose 2.7% year-over-year in 2Q 2019, it increased from 4,544 to 4,666. Condo transactions downgraded 5.9%, from 5,104 to 4,805. Second quarter mid-market sales increased for all types in Broward. Single-family home sales in the $250,000 to $600,000 range increased 7.2%, while condo sales in the $150,000 to $400,000 range increased 6.7%. Lack of supply in certain price ranges and neighborhoods coupled with lack of FHA loans for Condos in Florida is negatively impacting local sales activity. The median price for single-family homes in Broward County increased to $365,000 in 2Q 2019, a 1.6% jump from $359,238 in the same period last year. The median price for existing condominiums increased 3.2.6% year-over-year from $170,500 to $175,000. At the current sales pace, the number of active listings represents 4.3 months of inventory for single family homes and 5.9 for condominiums. A balanced market between buyers and sellers offers between six and nine months of supply inventory. Cash sales accounted for 50.9% of all Miami existing condo sales and 17.8% of single-family transactions. Nationwide existing single-family home sales increased 4.3% to a seasonally adjusted annual rate of 279.6 million in the second quarter, up from 268.0 million in the second quarter of 2018, according to NAR. Condo sales nationwide increased 3.6% to a seasonally adjusted annual rate of 255.04 million in the second quarter. Statistics in this news release may vary depending on reporting dates. MIAMI reports exact statistics directly from its MLS system.