Sales of existing single-family homes in May in the Cape Coral-Fort

Myers metro area dipped slightly from April, according to data

released Tuesday by the Florida Association of Realtors, but the

median sales price jumped slightly to $88,500, up from April’s median

sales price of $85,500.

There were 1,417 existing home sales in May, a 72 percent increase

from the same time last year, but less than the 1,468 that were sold

in April.

The median sales price statewide for May, $144,000, was also higher

than April’s $138,500 figure. But it remains to be seen whether the

positive numbers suggest an actual rebound in the housing market or

merely an anomaly.

“While one month of data does not a trend make, it is the first green

shoot we have seen in some time as far as prices are concerned; until

prices stop declining, we cannot state with confidence that the

housing market has stabilized,” Dr. Sean Snaith, director for the

University of Central Florida’s Institute for Economic

Competitiveness said in a news release.