An Overview On The Market For Miami Homes For Sale During The First Quarter Of 2012

Miami Homes For Sales

The market for Miami homes for sale has managed to achieve an impressive start to 2012 which become consistent throughout the first quarter of the year. In fact, it has been reported that the market has been on a streak as it has even managed to earn an impressive series of gains as far as its single-family homes and condominiums within the region are concerned.

People are quite surprised to see just how much improvements have been able to take place within a relatively short amount of time, especially since many had predicted it would take years before such success could possibly be achieved. Nevertheless, the inventory continues to decline as the demand remains strong which means that prices across the region are definitely going to have to catch up soon. 

Compared to the inventory that are available during 2011, today’s market for Miami homes for sale has gone down by as much as 45 percent which means that there has definitely been a rapid absorption rate as far as real estate transactions are concerned. 

Of course, such figures make better sense when presented alongside the fact that Miami has had the highest percentage of foreign buyers and investors within the United States. If you were to take into consideration the fact that an estimated 90 percent of purchases carried out by foreign buyers and investors is carried out in cash then you can only imagine how such transactions can boost the market as a whole. 

It goes without saying that a great deal of the demand being received by the market is coming in from property buyers who are particularly keen on being able to purchase distressed properties within the region. Since there has been quite a large volume of these types of properties, buyers are given an abundant selection which enables them to take full advantage of the opportunities being presented on the market. 

Also, the fact that the process required for short sales has improved in recent times has helped to promote better absorption on numerous Miami homes for sale on the property market which further contributes to the overall price appreciation on such real estate properties. 

So exactly what can people expect to find as we are looking to step into the second quarter of 2012? Well, aside from the fact that Miami homes for sale are most likely going to be sold for higher prices, there is also the chance that people will have fewer options to choose from since inventory levels have yet to be replenished so property buyers who have been interested in their options within Miami should definitely get moving fast because nobody knows how things will unfold in the very near future. 

Miami Homes For Sale