The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year. Home sales were up 2.1% in the South.

However, home prices were down 8.2% nationally and 8.6% in the South.

While some analysts seem to think that this increase in home sales is an anomaly, I am very confident that homes sales will continue to rise steadily in the South Florida market, specifically Miami. Prices finally make sense after years, and deals from bank-owned properties (foreclosures) and distressed properties are more abundant, which is very attractive for buyers. And not surprisingly, many of the buyers in Miami are end-users who have been waiting for a long time to find a quality place at affordable prices.

Sep Niakan, Broker/Owner
305-725-0566
HB Roswell Realty
Miami Real Estate
http://www.hbroswell.com
http://www.condoblackbook.com

For all of your Miami Real Estate needs contact me today.
I am never too busy for referrals.

Paramount Bay Condos, Miami Real Estate, Miami Condos,

 

1 Comments on Existing Home Sales up nationally in February 2008

MAR
28
2008
446,419 Points 26 Featured Posts Outside Blog

Hi Sep.  Thanks for reading my post.

You are just getting warmed up with 2923 points.  It takes some time.  Have some fun with it.  Comment on others posts often as well. 

Good luck,

Ken
7:59pm • #1


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