Broward County Pending Sales
In Broward County pending home sales increased 8.0 percent, from 6,898 to 7,447 in January. Pending sales of condominiums in Broward County rose 9.4 percent from 3,780 to 4,137. Pending sales of single-family homes rose 6.2 percent in January from the previous month, from 3,118 to 3,310.
In the last 10 months Broward pending sales of single-family homes rose 31 percent, while pending sales of condominiums increased 80 percent. The total number of pending sales increased 54.4 percent from March 2009 to January 2010.
"The tax credit that was extended through April 30, 2010 and expanded to existing homeowners who have lived in their principal residence for five consecutive years in the past eight years is clearly impacting pending and closed sales in the South Florida market and is expected to further boost sales in the coming months," said Oliver Ruiz, RAMB Residential President.
A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales.
In the last 10 months Broward pending sales of single-family homes rose 31 percent, while pending sales of condominiums increased 80 percent. The total number of pending sales increased 54.4 percent from March 2009 to January 2010.
"The tax credit that was extended through April 30, 2010 and expanded to existing homeowners who have lived in their principal residence for five consecutive years in the past eight years is clearly impacting pending and closed sales in the South Florida market and is expected to further boost sales in the coming months," said Oliver Ruiz, RAMB Residential President.
A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales.
About RAMB
The Realtor Association of Greater Miami and the Beaches was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of three organizations (the Residential Realtor Association of Greater Miami and the Beaches, the Realtors Commercial Alliance and the International Council of Greater Miami and the Beaches), RAMB represents over 12,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. RAMB´s official Web site is http://www.miamire.com/.
The Realtor Association of Greater Miami and the Beaches was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of three organizations (the Residential Realtor Association of Greater Miami and the Beaches, the Realtors Commercial Alliance and the International Council of Greater Miami and the Beaches), RAMB represents over 12,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. RAMB´s official Web site is http://www.miamire.com/.
