In October, Miami Beach Condos sales surpassed single-family sales. In Miami-Dade, they were up 47% over a year ago and in Broward 68%. Month-to-month sales in Miami-Dade rose 5%. In Broward they rose 7%.
From September to October in home sales overall, that compares with a national increase of 10%. As buyers hurried to close before the deadline, Realtors credited the unexpected rise to the pending expiration of the $8,000 first-time home buyer tax credit. Congress extended the credit to April 30 earlier this month, and extended it to include a $6,500 credit for existing homeowners who qualify.
Analysts look at the supply of Miami homes for sale as the most important indicator of market health, because it estimates demand in relation to supply, to understand the pricing dynamic. It's calculated by dividing the number of Miami homes for sale by the number of homes sold in the most recent month.
Full Article...Miami Homes for Sale, Miami Beach real estate
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