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South Florida

Miami pending sales fall 5 percent

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The total number of residential listings that pended in March fell 5 percent compared to March 2011, according to data from the Miami Association of Realtors. There were a total of 4,158 single-family homes and condominiums that pended last month, compared to 4,389 in March 2011. Pending sales did increase by 13 percent compared to February 2012, however. “Record sales activity in Miami-Dade County last year has resulted in rising home prices despite a slight decrease in sales,” said Martha Pomares, 2012 chairman of the Board of the Miami Association of Realtors. “Pending sales activity remains at strong levels and points to further growth and strengthening in a market driven by both domestic and international buyers and investors.” — Alexander Britell

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MiamiMiami Association Of RealtorsPending Sales