Miami pending home sales rise

June 30, 2011 11:15AM

Total pending residential sales in Miami-Dade County — including single-family homes and condominiums — increased 15 percent in June from a year ago to 11,936, and 0.2 percent over May, according to the Miami Association of Realtors. The uptick is being driven by foreign money, according to the association. “International buyers are having a positive effect on the Miami real estate market, as sales continue to exceed last year’s levels, which were boosted by the homebuyers tax credit,” said Jack Levine, chairman of the board of the MAR. “Current figures corroborate the healthy market activity agents are experiencing first-hand and the evident demand for local properties.” Pending sales of condos jumped 18 percent over what they were last year. — Alexander Britell

http://therealdeal.com/miami/articles/miami-pending-home-sales-rise-according-to-miami-association-of-realtors#

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