Miami Home Resales Increase 7th Straight Month

In June, 7,722 new and resale houses and condos closed escrow in the region encompassing Miami-Dade, Palm Beach and Broward counties. That was up 17.5% from May (6,572) and up 20.6% from 6,404 in June 2008, according to MDA DataQuick of San Diego. The number of homes sold rose above the year-ago mark for the fourth consecutive month despite historically low new-home sales. Resales of single-family houses and condos have risen on an annual basis for seven straight months.

The Miami region's median sale price inched higher than the prior month for the second month in a row in June but remained 37% lower than a year ago and 45% below its June 2007 peak.

Originally posted at Carpe Diem.