Home sales saw a slump in the South Florida housing market in January for the second consecutive month.  
It came as a stark reminder that it would still take long for the economy to completely emerge out of the economic crisis. 
On Friday, Florida Realtors reported that the number of home sales in Miami-Dade fell 30% from December to January, as the median sales price for a single-family home slid 10% to $183,400. In Broward, sales were down 37%, and the median price dropped 155 to $180,000. 
“We were in such a dark, black hole, but we are slowly digging our way out of this'', said the President of EWM Realtors, Ron Shuffield. 
Lawrence Yun, the Group's Chief Economist, said that the sales are 11.5% higher than they were a year earlier, but the monthly trend is "not encouraging".  
The gross domestic product, the broadest measure of economic output, rose at a 5.9% annual pace from October through December, instead of 5.7% beating the estimate by the Commerce Department. 
But soaring unemployment and waning consumer confidence continues to afflict the housing sector. As people remain insecure about jobs, they are less likely to spend more money on goods and services, including big items such as homes. 
Around 3.3 million existing homes were up for sale in January.