Miami witnessed hike in home sales

Miami witnessed hike in home sales

 

Miami: According to a report by Miami home sales realtors, the city enjoyed its best May season as it witnessed 1,344 single family home sales, the most seen in the month of May.  Miami witnessed a 9.9% hike in home sales as compared to the previous year.  Miami’s total sale has been up by 7.7% while the single family transaction has increased up to 24% and the single family home has seen increase in sale for the past three months.

 Total sale went up to 2,728 homes from 2,532 homes. Sale of condominiums also witnessed an hike of 5.7% year over year. The problem for the lack of more growth in condominiums is the lack of access to mortgage loan and as a result out of 9,307 buildings, only 12 are approved by the federal housing administration loan.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s