Miami pending home sales up 19 percent

Total current cumulative pending home sales in Miami-Dade County were up
19 percent through the end of June compared to the same period in 2010, according
to data from the Miami Association of Realtors and the MLS. There are a
total of 12,014 cumulative pending home sales to date, including both
condominiums and single-family homes, compared to 10,113 at the same
time last year. “Miami is in demand, as reflected by consistently
increasing pending and closed sales and dwindling housing inventory,”
said Jack Levine, the 2011 chairman of the board of the Miami
Association of Realtors. “Our market is a focal point for global
business headquarters, celebrities and the entertainment industry,
tourists and visitors, and the ever-important international buyers.” — Alexander Britell