House prices continue to rise across Miami
Miami continues to lead the way for the recovery of the USA real estate markets according to the results of the first quarter of 2012.
Figures supplied by the Miami Association of Realtors show that house prices in Miami-Dade County grew by almost 15 per cent in the first three months of 2012 when compared to the same period a year ago. Average single family home price stands at around $174,800, the condominium sector of the market did particularly well - prices increased by almost 40 per cent compared to twelve months ago.
Local experts say that the market has experienced a huge boost in the form of overseas investors and holiday home buyers looking to buy a home in the sun while real estate prices were such good value for money.
Demand remains high in the region but stock levels are on the decline which is likely to result in higher prices, local residential real estate professionals believe tight credit conditions governing the American home mortgage market could have a negative impact on future levels of sales