Homes sales in Tampa area continued growth in June

Existing home sales in the Tampa metropolitan area rose 13 percent in June and sales prices were stagnant.

There were 3,226 sales in June in the Tampa-St. Petersburg-Clearwater area, up from 2,848 during the same month last year, according to the Florida Realtors.

The median sales price - meaning half the prices sold for less and half for more - was $138,400. That's down 1 percent from a year ago.

Across the state, sales also jumped. Florida home sales rose 17 percent in June, marking 22 consecutive months of year-to-year increases.

There were 18,371 single-family home sales in the state, compared to 15,732 in June 2009.

The median sales price in Florida was $141,000, down 5 percent from last year's $147,700.

The Tampa area and Florida performed better than the nation.

Sales of previously occupied homes nationwide fell in June, and economists expect them to keep sinking.

Sales fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million, the National Association of Realtors said.

Last month's report captured some buyers receiving federal tax credits of up to $8,000 that boosted sales this year. Buyers initially had to close their purchases by June 30, but Congress extended the deadline to the end of September.

Since the tax credits expired, the number of people buying homes has fallen sharply, despite lower prices and the lowest mortgage rates in decades. The situation has been worsened by high unemployment, tight lending standards and rising foreclosures.

"The economy and the housing market are going to remain stagnant for a long time," said Sam Khater, senior economist at real estate data provider CoreLogic. "There's nothing that's going to propel sales anytime soon. It's all about jobs and income growth."

Sales are likely to keep falling for three to four months, said Lawrence Yun, the Realtors' chief economist. That would likely boost the supply of unsold homes to more than 10 months for the first time since the spring of 2009. And it could push down home prices.

"It's still a fragile situation in the housing market," Yun said.