Pending home sales in Broward County, Fla., home of the Miami metropolitan statistical area, increased 25% in October to 3,356 pending listings compared to 2,633 a year earlier.
Those numbers come from the latest Miami Association of Realtors report.
Single-family home and condominium sales pending during the same month increased 43% and 16% year-over-year, respectively, the report said.
“We continue to see encouraging market performance in Broward County,” said Terri Bersach, president of the Broward County Board of Governors of the Miami Association of Realtors. “The fact that contract activity continues to expand month-over-month and year-over-year reflects a healthy and balanced marketplace supported by strong demand and diminishing supply.”
Pending sales activity is generally considered an indicator of future sales, according to Natascha Tello, president of the Broward County Board of Governors of the Miami Association of Realtors.
The association also noted that the pending home sales index – a forward looking indicator of market performance that evaluates contract signings – grew 4.6% to 10.4% in October, compared to 84.5% in September.
The author of this article is: Kerri Panchuk
See the original post at: http://www.housingwire.com/2011/12/01/pending-home-sales-rise-25-in-miami-area
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