Panama City, FL--  According to the latest data from the Florida Association of Realtors, while Panama City shows the same declining trends as the rest of Florida in condominium sales, their home sales go against the grain. 

Sales increased 1% since this time last year, and are showing a 13% increase in price.  But both state sales and price are decreasing.  Sales decreased 28 percent compared to last January, and the price about 14 percent.

Cynthia Bazzel is one of those searching for a single-family home in the area.

"It's a buyers market right now," she said, "the interest rates are still low and there's a lot of homes on the market available to look at."

Her realtor, Cathy Marshall says she's part of the exception to the state-wide trend.

"In the last couple of months we've seen an increase in people inquiring about homes," she said, "I think with interest rates low, the amount of properties that are available, the new airport coming to the area, as well as the fact that it's a great place to live."

President of the Bay County Association of Realtors Jan Cox agrees that growth in the area is a major contributor.

"New construction, new developments... you've got military moves coming in, people are looking for jobs here," she says, "It's not really a surprise, the phones have been ringing more."

She says she expects the market will eventually even out, increasing home prices just 2-4 percent a year.  But, she also says she expects Panama City to become a major contender in the housing industry.

"Ultimately I think you'll see Panama City and the Panhandle in general becoming one of the top areas in the United States," she said.

Realtors say sales for condominiums will also pick up as the tourist season gets underway.

Also Read 2008 Housing Report