By
Kris Hudson | Wall Street Journal
The spring home-selling season is off to a promising start in this military port city, sparking optimism here and in other cities that the market has finally gained momentum after a slow recovery and last year’s stall.
The downturn was brutal for Jacksonville; home sales sank and foreclosures were running at high levels during the crisis. But in recent months, home sales have shot up, the percentage of distressed homes on the market has declined and traffic at model homes in new subdivisions has been brisk.
Local home builders and real-estate agents report the most vibrant period of home sales since 2006. Finalized sales of existing homes in the Jacksonville area were up 18% in March from a year earlier, and pending sales were up 30% in that span, according to the Northeast Florida Association of Realtors.
The spring selling season—a crucial period for sales because families typically want to lock into a school district by the end of summer—runs February to June and typically generates more sales activity than other months of the year.
