July 22, 2016
Existing home sales in Miami-Dade County declined again in June, further suggesting that the market has stabilized after years of unsustainable growth. However, the Fort Lauderdale real estate market, which is less dependent on foreign buyers, posted a strong month.
Single-family home sales in Miami were down 6.3 percent annually, and condominium sales were down 10.6 percent. Total monthly sales in the county have declined steadily since August 2015 amid falling currencies in Latin America affecting the luxury and bargain markets, in particular. While sales are declining, the numbers are still above, or in line with, historical averages.
Contrarily, Broward County single-family home sales in June were up 4.7 percent year-over-year, and condo sales were up 4.7 percent. This was well above the national average of 1.1 percent.
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Source: Miami Herald
