California is traditionally the first state in previous real estate depressions to signal a turn around in the housing market. In an unprecedented turn of events, Florida is pulling out of the housing downturn first.

Moderately growing home and condo sales in Florida that have lasted for more than a half year is signaling real estate in Florida may be taking a turn for the better. “The increase in sales in the Miami market over the last seven months shows a clear strong upward trend indicative of a market recovery,” said Rick Burch the Chairman of the Realtor Association of Greater Miami and the Beaches. The sales of single-family homes have shown gains every month since August 2008 and condominium sales have increased every six out of the last seven months.

Miami had a 70 percent increase in existing-homes sales including single-family, townhomes, and condominiums for February 2009 compared to February 2008.

The number of days a property stays on the market and inventory levels has also decreased substantially.  In August 2008, the total number of listings on the market was 43,058 that number had dropped to 35,562 by March 2009. “We expect sales to continue to rise in the coming months, and once distressed properties are not a major force, prices will begin to rebound to normal levels,” said Burch.

Record population growth in Florida may contribute to the more promising market after nearly a four year slow down in home sales. The Florida real estate slowdown started after the state was battered by a series of hurricanes and the financial crisis. As a result Florida real estate sales turned sluggish before anywhere else in the U.S.

Palm Beach County home prices continued to fall in February, but sales spiked as bargain hunters snapped up foreclosures and short sales, the Florida Association of Realtors.

The median price of a single-family home in Palm Beach County was $228,100, down 34 percent from a year ago. However, 532 homes sold during the month, up 33 percent from a year ago.

Buyers are targeting lower-priced homes that sell for far less than they fetched in 2005 and 2006. “Bargain properties are selling, but expensive Palm Beach County’s homes attract few buyers”, said Steven Presson, an agent at Corcoran Group Real Estate in Palm Beach.