US Pending Home Sales up 9 Year High

The National Association of Realtors announced that pending home sales have reached a nine year high last month rising .9% to 112.6. This indice increase over ten percent tin the past year and it is just below the height in April 2006. At Beachfront, we have noticed this trend and, in Miami, the market has made an incredible and substantial come back especially in terms of luxury condominiums and single family homes, and Miami preconstruction. The inventory has continued to decline and remains tight despite over 60 new residential developments in construction, and more homes on the market.

Nationally, the gains in sales and homes on the market is attributed to increases in employment and relatively low mortgage rates that still exist. The stronger economy is no doubt a driving force in the local growth however the influx of foreign buyers and domestic buyers looking to take advantage of favorable tax structures in Florida, have made the Miami market expand at a remarkable pace. Beachfront has grown with this trend and now has over 1700 agents and is ranked the #1 with the Miami Board of Realtors by Market Share. In 2014 we have proudly sold over $1 billion in inventory. If you are looking to join beachfront or if you are looking to buy or sell Miami real estate contact us today!

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