Miami-Dade County pending home sales up 18 percent

Cumulative pending home sales were up 18 percent in Miami-Dade County in
August, compared to the same period in 2010, according to the Miami
Association of Realtors. There were a total of 11,915 single-family home
and condominium sales in August, up from 10,119 the year before. “The
Miami real estate market continues to outperform the nation,” said Jack
Levine, chairman of the board of the Miami Association of Realtors.
“Rising pending sales reflect market strengthening that has resulted
from our market’s increasing attraction to foreign, vacation and
second-home buyers.” Condo sales outperformed single-family homes in
August, however, with a 21 percent jump compared to 2010. — Alexander Britell