Miami Real Estate: Spring Buying Boosts Home Prices in 13 US Cities

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By Derek Kravitz
Home prices in most major U.S. cities are rising for the first time in eight months, boosted by an annual wave of spring buying. Analysts cautioned that the increases may be temporary and don’t signal a rebound for the depressed home market. Prices rose in 13 of the 20 cities tracked by the Standard & Poor’s/Case-Shiller home-price index, according to the April report released Tuesday. The sharpest increases were in Washington, D.C. The next-largest were in San Francisco, Atlanta and Seattle. The index covers metro areas that together make up about 50 percent of U.S. households. It measures sale prices of select homes in those cities compared with prices in January 2000. It then provides a three-month average. The April data is the latest available. Last year, a tax credit for first-time buyers helped boost prices. They rose nearly 4 percent from April through July before falling more than 7 percent this winter to record lows. Prices in big metro areas sank in March to their lowest level since 2002.

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One Response to Miami Real Estate: Spring Buying Boosts Home Prices in 13 US Cities

  1. Scott says:

    Luxury for Sale on Miami Beach

    “As predicted” said Scott Abraham CEO of Miami Glamour Luxury Real Estate, a real estate investment and brokerage firm on Miami Beach, Miami is one of the strongest housing markets in the country. A recent report by the Investors Business Daily proves that the Miami condo market has bounced back and is showing a solid recovery. Miami, known as the magic city has many qualities that individuals desire when searching for new homes.

    “Of the top eight U.S. metro areas, Miami was the only one in 2010 to show volume gains in attached-home closings, mainly condos, according to data gathered by Hanley Wood Market Intelligence.

    The other seven fell 5% to 37% as Miami rose 8%. New York dropped 13%, Los Angeles 20% and San Francisco 37%. Unit sales totaled 4,120 in Miami ― above L.A.’s 3,935 ― but that still pales vs. pre-crash years 2005-07, when 20,000 to 30,000 units sold each year.

    The Miami metro figures cited by Hanley Wood include Miami-Dade, Broward and Palm Beach counties. Miami-Dade is almost 70% of the total, at 2,842 closings.”

    “Miami is paradise, It doesn’t get any better than this. This is the time to take advantage of the markets low prices for some of the most desired luxury real estate in the world. This is a once in a lifetime opportunity.” said Scott Abraham, CEO of Miami Glamour Luxury Real Estate, a real estate investment and brokerage firm on Miami Beach.

    Is this the right time to buy Real Estate ?

    If you ask the experts its seems that the basics of real estate is to buy low and sell high. If you look around it seems like most of the rich are buying up all the real estate that they can get there hands on. With nearly 50% discounts on some of the countries luxury real estate, I say its time to buy now.

    Top 10 Luxury condos on miami beach

    1.Murando Grande
    2.Apogee
    3.Portofino Towers
    4.Continuum
    5.IL Villaggio
    6.1500 Ocean Drive
    7.Setai
    8.W South Beach Residences
    9.Mondrian
    10.ICON South Beach

    Lets face it most people want a luxury lifestyle and Miami is the ultimate destination, with currency strength in Canada and Europe, with the rich in Asia and South America, Miami is the gateway to Paradise. With one of the largest sales in history made last month by an Asian group purchasing a 13.9 downtown waterfront landmark in an all-cash deal for $236 Billion.

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