Florida Real Estate - Pending Home Sales Continue to Rise in Miami



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Pending Home Sales Continue to Rise in Miami

Friday, August 17th, 2012

 
While sales in many housing markets throughout the country have been suffering due to a lower inventory of homes for sale, a new report reveals pending home sales in Miami-Dade County were up in June from the previous year.

While sales in many housing markets throughout the country have been suffering due to a lower inventory of homes for sale, a new report reveals pending home sales in Miami-Dade County were up in June from the previous year.

Data from the Miami Association of Realtors reveals pending home sales jumped 22 percent on a year-over-year basis, from 2,730 in June 2011 to 3,344 this year.

Pending sales of single-family homes sales were up 7 percent from last year, reaching 5,380, and increased 1 percent from sales in May. Pending sales of condos slipped just 1.2 percent from a year ago and were one percent below what they were in May this year. Cumulatively, pending home sales in Miami-Dade in June were 2.1 percent above sales last year and 0.8 percent above levels reached in May.

"The Miami real estate market is a focal point for buyers and investors who are drawn to the favorable market conditions, the attractive investment opportunities,and the exciting local lifestyle," Patricia Delinois, president of MAR. "Both international and U.S. investors continue to boost the Miami real estate market and economy as evidenced by strong sales levels and double-digit price appreciation."

Real estate is local. For those looking at homes, knowing Florida's real estate market helps them know that buying a home in the Sunshine State is a great move. GL Homes understands Florida real estate and can help people target the best Florida homes for sale.