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Miami Home Closings Up 22% -- What are You Seeing?
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07/30/2012 9:59 AM
It was reported this morning that Miami is expecting more home closings in the future with Miami-Dade County reporting a 22% year-over-year increase in pending single-family and condo listings for the month of June, according to data released by the Miami Association of Realtors.
The association and the Multiple Listing Service saw pending listings increase to 3,344 in June, up from 2,730 a year earlier, but 13% down from the previous month.
On the other hand, the U.S. homeownership rate remained relatively stable at 65.5% in the most recent second quarter, but analysts looking ahead foresee a country with falling homeownership rates as lending rules tighten, delinquencies rise and new foreclosures pop up across the country.
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