March turned out to be a good month for real estate as sales skyrocketed over 100 percent in Miami-Dade County. Once again, it was the reduced mortgage rates, government implemented tax perks, and inexpensive prices for Miami Beach homes that drove buying activity last month.
The month of March continues an eight month streak of home sales increases when compared to 2008. Miami Beach condos as well condominiums in neighboring Broward County also saw encouraging buying activity along with traditional single family homes. Despite this, it’s still best to approach it with a healthy dose of cautious optimism.
One of the biggest culprits in driving down the housing market continues to be the persistent drop in prices for Miami Beach homes, albeit in not quite as dramatic numbers. Since there is ultimately no telling when the bottom will be reached or when prices will suddenly rise, more buyers are dipping their toes into the market.
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