LA-area home sales fall 8.9% after Florida wildfires
NEW YORK — New home sales in the Orlando area dropped 8.1% in December from a year ago, the first decline in four months.
The decline is more than double the 6.2% decrease in the same period a year earlier, according to the National Association of Realtors.
The market has struggled in recent months as the wildfires in the central Florida region have caused a number of new housing construction and destroyed many properties.
The wildfires were fueled by drought and a shortage of natural gas.
On Tuesday, Florida Gov.
Rick Scott announced a $1.5 billion aid package to help rebuild homes and other buildings after the fires.
The Florida Association of Counties has also said that home sales have fallen 6.9%, while the state’s median home price has fallen $2,000.
The median price of a home in the city of Orlando, a Florida suburb, is $1,900.
The Associated Press contributed to this report.