Pending home rise in Miami & Broward
Great News Pending sales rose in Miami-Dade and Broward counties during January compared to December, according to data released Tuesday by Southeast Florida Multiple Listing Service.
In Miami-Dade, pending sales of single-family homes increased 0.81 percent to 3,741. Sales of condominiums rose 3.5 percent to 4,647.
In Broward, pending sales of condominiums rose 9.4 percent to 4,137. Pending sales of single-family homes rose 6.2 percent to 3,310.
All accross the country , NAR said Tuesday that pending sales its seasonally adjusted index of sales agreements rose 1 percent from November to December to a reading of 96.6. That was a little lower than the 97.1 level analysts expected, according to Thomson Reuters.
The index has risen for nine out of the past 10 months as buyers scrambled to take advantage of an $8,000 first-time home buyer tax credit before its scheduled expiration Nov. 30.
Congress extended the tax credit to April 30 and added a $6,500 credit for current homeowners.
So what we are expirencing is the bulk of first time home buyers taking advangte of this.
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