The Real Deal Miami

Miami pending home sales rise

June 30, 2011 10:36AM

Total pending residential sales in Miami-Dade County — including
single-family homes and condominiums — increased 15 percent in June
from a year ago to 11,936, and 0.2 percent over May, according to the
Miami Association of Realtors. The uptick is being driven by foreign money,
according to the association. “International buyers are having a
positive effect on the Miami real estate market, as sales continue to
exceed last year’s levels, which were boosted by the homebuyers tax
credit,” said Jack Levine, chairman of the board of the MAR. “Current
figures corroborate the healthy market activity agents are experiencing
first-hand and the evident demand for local properties.” Pending sales
of condos jumped 18 percent over what they were last year. — Alexander
Britell