As we approach the midpoint of 2010, the good news regarding housing in South Florida continues to provide evidence that the market is on an upswing, steadily increasing demand for Miami Beach homes. This time around, it's pending home sales that saw another welcoming boost last month...and what a significant boost it was.
In Miami-Dade County alone, pending home sales increased by more than six percent to 10,392. That increase actually represents about 1,000 additional pending sales than the month of March. That number seems modest but when we place April's pending home sales alongside those of April 2009, the 71 percent increase is quite substantial. With pending sales, people sign contracts to purchase properties such as Miami Beach homes but these properties have yet to actually close, hence why they're pending.
Real estate analysts do caution that this steady stream of increases may actually be lower in the months to come now that the tax credits for buying Miami Beach homes and such is over. Where do you see things going?