The latest news and information on Miami Beach condos, luxury Miami homes, Miami commercial real estate and other Miami Beach real estate news content.
According to a report published Monday by Condo Vultures, South Florida's inventory of existing homes for sale has decreased by about have in the past 20 months and now it seems it is slowly growing again.
As compared to the same month last year, the number of pending FloridaMiami homes sales was up 54 percent and 51 percent in Broward. The numbers are high because of the many international buyers and home owners purchasing ‘second’ Miami homes that wanted to take advantage of the glum Miami real estate prices. Another contributing factor was first-time and existing buyers if Florida Miami homes benefiting from low mortgage rates.
According to figures released by the Realtor Association of Greater Miami and the Beaches and the Southeast Florida MLS, in May, total pending Florida Miami homes sales, including single-family and Miami condos, in Miami-Dade increased to 10,456, up 0.62 percent from April. April figures included a last-minute surge by Florida Miami homes buyers taking advantage of the federal tax credit which expired on April 30.
Realtors including Miami real estateagents have been counting on an increase in sales of pre-owned homes brought on by the extended federal tax credit for buyers. According to the National Association of Realtors in Washington, the March sales reached an adjusted annual rate of 5.35 million units, up from February's 5.01 million and 16.1% above the March 2009 pace of 4.61-million-units.
Congress has developed plan and passed a new legislation to stimulate the U.S. housing market and address the economic challenges facing our nation by:
*Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
According to data released Tuesday by the Realtor Association of Greater Miami and the Beaches and the Southeast Florida Multiple Listing Service Pending home sales rose in Miami-Dade and Broward counties during January compared to December.
