The Real Deal Miami

Miami pending home sales rise 10 percent

June 28, 2012 09:00AM

The total number of single-family home and condominium listings that pended in Miami last month represented a 10 percent increase compared to May 2011, according to data from the Miami Association of Realtors. There were a total of 3,851 listings that pended last month, up from 3,508. That was a 3.1 percent decrease, however, from April 2012. “Despite limited supply and rising prices, Miami pending home sales rose in May, which is a positive sign for the Miami real estate market,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “Increased demand for Miami properties will continue to drive price appreciation and strengthen our market.” — Alexander Britell