Prices slashed: Homes for sale in Miami

Homes for sale in Miami-Miami real estate

According to data from real estate website Trulia.com, eighteen percent of homes for sale in Miami saw their prices slashed in August by an average of 12 percent.

On the list of 50 cities, Miami homes actually ranked fairly low at Number 49 with $123.8 million in price reductions. Number 50 was Detroit, which had 16 percent of homeowners reducing prices, though they did cut deeper, at 25 percent.

Full Article....Prices slashed: Homes for sale in Miami

Homes prices fall as inventories rise nationwide

Miami home prices fall as inventories rise, Miami real estate

Some indicators show the real estate market has begun to turn a corner. The National Association of Realtors reported on September 2 that pending sales of existing houses increased 5.2 percent from June to July. According to the median of 37 forecasts in a Bloomberg survey, economists had estimated a 1 percent decline.

Nicolas Retsinas, director emeritus of Harvard University's Joint Center for Housing Studies, said during an August 31st interview on Bloomberg Television's that ''The market is starting to show some signs of stabilization but a robust recovery is a long time away.''

Lender Processing Services Inc., a Florida-based mortgage servicing company, reported on September 2nd that as of July 31st the number of U.S. homes in default or foreclosure fell to 7.04 million from a high of 8.12 million in January.

Full Article...Homes prices fall as inventories rise nationwide