Miami-Dade pending home sales jump 29 percent

The total number of residential listings in Miami-Dade County that pended in February rose 29 percent compared to the same period in 2011, according to a report from the Miami Association of Realtors. There were a total of 3,685 listings that pended last month. “Despite the significant decline of housing inventory in the Miami real estate market, we continue to see rising demand,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “Rising pending sales point to increased future demand locally, as Miami continues to attract U.S. migration, in addition to substantial international buyers and investors and second and vacation homebuyers.” The February totals represented an increase of 14 percent compared to January 2012. — Alexander Britell