Miami Real Estae: Pending Home Sales Up in Miami-Dade County in August

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By The Street
NEW YORK August cumulative pending home sales, including single-family homes and condominiums, in Miami-Dade County were 18 percent above what they were a year earlier, up from 10,119 to 11,915, and 0.8 percent below the previous month, down from 12,014, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.The total number of listings of pending home sales, including single-family homes and condominiums, in August increased 19 percent, from 2,989 in August 2010 to 3,350 last month. Compared to the previous month, pending home sales decreased a negligible 0.3 percent. Pending Single-family home and condominium sales during the month increased 26 percent and 14 percent respectively. “The Miami real estate market continues to outperform the nation,” said Jack H. Levine, 2011 chairman of the board of the MIAMI Association of REALTORS. “Rising pending sales reflect market strengthening that has resulted from our market’s increasing attraction to foreign, vacation, and second home buyers. Canadian, Brazilian, and Venezuelan buyers lead local international sales and contribute to the health and balance of our market.”


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