Miami Real Estate: New Data Shows Tiny Rise in Housing Prices

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By Toluse Olorunnipa
At the halfway point of 2011, the predicted slide in home values in South Florida has not materialized, at least by one estimate that looks back at pricing trends over the first six months of the year. A new report from data analysis firm Clear Capital of Truckee, Calif., shows that South Florida home prices were up 0.6 percent between January and June, a sign that the market may have stabilized. Still, prices remain below where they were last year and there are numerous signs that values could still slide further. Clear Capital predicts that prices will fall 1.2 percent over the next six months. At the beginning of the year, Clear Capital’s forecast was much gloomier: a 6.5 percent decline in home prices.
“It looks like the Miami market has hit a stable point,” said Alex Villacorta, director of research and analytics at Clear Capital. “This is the traditional spring, summer buying season and, from a buyer’s point of view, it’s a great time to get in the market.”
The report is the first of many that will track the housing market’s performance at the halfway point of 2011. Others will look at sales pace, foreclosures, inventory and delinquency rates. The results are likely to feature a mixed bag of positive and negative news, but general trend lines for the first half of 2011 are likely to look better than the first half of 2010, said Villacorta. Sales are up considerably through the first five months of the year, and 2011 is on pace to set a record for the strongest sales volume in the region’s history. In Miami-Dade, 10,439 homes and condos traded hands between January and May, up 61 percent from the same period in 2010, according to the Miami Association of Realtors. In Broward, there have been 12,851 home sales, an increase of 53.9 percent over 2010’s first five months.

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Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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