The Time to Invest in Miami Real Estate is NOW

The growth in home sales in Miami continues to know no bounds, growing from the all-time record set in 2011 as buyers from within the US and around the world realise that this is the opportunity of a lifetime to buy at such low prices.

Some 4172 homes in Miami-Dade county were pending sales this October, an increase of an incredible 67% compared to last October and of 18% compared to September according to the latest data from the Miami Association of Realtors. The number of single-family and condominium listings that pended in October increased 85 percent and 55.7 percent respectively compared to October 2011.

A sale is listed as pending when a contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Thus increasing pending sales is a forward indicator of continued sales growth in the Miami market. "The Miami real estate market is poised for another record year, that would surpass the all-time sales record set in 2011," said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. "Strong demand persists despite the shortage of housing inventory, and listings are increasingly selling at a more rapid pace, driving in significant price appreciation." SOURCE: Miamire.com 

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