March Miami Home Sales Highest Since 2006
DQNews -- "Miami-area March home sales rose to a five-year high for that month amid especially robust condo resales, which represented a record 53.1 percent of all homes sold. Sales to cash buyers, investors and others snapping up sub-$100,000 homes helped keep the region's overall median sale price pinned at $120,000 - the lowest level in more than a decade.
In March, 10,238 new and resale houses and condos closed escrow in the metro area encompassing Miami-Dade, Palm Beach and Broward counties. March sales rose 39.1 percent from the prior month and increased 18.2 percent from a year earlier. March's 39.1 percent sales gain from February was higher than the normal, seasonal increase. March's total sales were the highest for that month since 2006 (when 16,199 homes sold)."
4 Comments:
How long with this sort of 'good news' last?
From the Fiscal Times: Home Sales Double Punched by Financial Regulation
Another two or three years of this and the inventory may fall to a pre-crash level. Hooray...
The people buying houses now in a Miami, Phoenix or Las Vegas must have the lowest cost of living anybody has had in generations. I wish I could move to those cities.
We are talking monthly mortgage payments equal to what Morganovich pays for a fancy dinner.
We are talking monthly mortgage payments in the $500 range, including property taxes.
Waa-waa inflation, anybody?
The people buying houses now in a Miami, Phoenix or Las Vegas must have the lowest cost of living anybody has had in generations. I wish I could move to those cities.
Why not try Detroit. You can buy a house there for less than what it would take to buy a car.
And having a lot of cheap houses in the neighbourhood does not help people who have purchased homes and find that they are worth a great deal less than their outstanding mortgage amount.
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