Miami Home Sales Continue to Climb

by Isaac Benmergui, Esq on September 20, 2012

In a recovery that’s deemed one of the strongest in the nation, the Miami real estate market continues its climb back to stability. July pending home sales in the Miami-Dade area rose 31 percent over the previous 12-month period, according to the Miami Association of Realtors. Pending sales were also up from 2,593 in the previous year to 3,393. Total cumulative pending home sales were 3 percent (12,210) above the previous year, and cumulative pending sales of single-family homes was 9.4 percent above (5,407).

Existing Miami Home Inventory Low Realtors Need More Homes to Sell

Driving the numbers is the low inventory of available homes and a desire to buy before prices rise too much and people struggle to find home mortgages to cover the sales price. Realtors wish they had more inventory to work with and urge homeowners who are considering selling their home to make the leap and put their home on the market. If the home is in good shape, it won’t take long to sell, and the seller should expect a bidding war.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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