Miami-Dade pending sales jump in October

Cumulative pending home sales in Miami were up 10 percent in October
compared to the same period last year, according to the Miami
Association of Realtors. There were 11,245 cumulative pending home sales
in October, although that was a 0.4 percent decrease from September.
The total number of listings, including single-family homes and
condominiums that went into contract during October increased by 26 percent compared
to 2010. “In Miami, where market performance has outpaced the nation,
strong pending sales activity has mirrored robust closed sales figures
due to international buyers who mainly pay all cash and are not impacted
by mortgage financing issues,” said Jack Levine, chairman of the board
of the MAR. — Alexander Britell