Less Selling Days Leads to Monthly Home Sales Decline in Miami

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Less Selling Days Leads to Monthly Home Sales Decline in Miami

HOW LOANRATEUPDATE WORKS

READ OUR DISCLOSURE

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

READY TO SPEAK TO A PROFESSIONAL?

LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE

Pick the service you desire below

Less Selling Days Leads to Monthly Home Sales Decline in Miami

HOW LOANRATEUPDATE WORKS

READ OUR DISCLOSURE

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE

Pick the service you desire below

Less Selling Days Leads to Monthly Home Sales Decline in Miami

November 15, 2012 (Shirley Allen)

Sales of new and re-sale homes in the Miami area declined in September due to the month having three less selling days than August, but on a daily basis, home sales saw a slight increase over the previous month according to the latest housing data released by DataQuick.

A total of 8,969 new and resale homes and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in September. Sales were 10.9 percent lower than the 10,062 homes sold in August but up 4.9 percent from the 8,546 homes sold in September of 2011.

Sales for the month were expected to be lower because September only had 19 business days compared to a normal month that typically has 21 or 22 business days. On a daily basis, homes sales were actually 3.3 percent higher than the previous month.

Home sales in the region typically decline around ten percent between August to September and were 14.7 percent lower than Miami’s average September sales rate.

Cash buyers accounted for 62.0 percent of the purchases made in September, which was about the same as the previous month and the previous year. Some cash buyers use alternative financing arrangements but at the time of purchase there was no indication of a purchase loan recorded.

The price that cash buyers paid for the homes they purchased in September increased to $112,500 from $106,200 in August and was up from $90,000 in September of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 40.6 percent of all homes sold in September paying a median price of $112,000, up from $104,000 in August and up from $90,000 in September of 2011.

The overall median price paid for new and resale homes and condos in September was $150,000, which was up from $146,000 in August and up from $130,000 in September of last year.

The median home price is 48.3 percent below the peak median price of $290,000 in September 2007. It was the ninth consecutive month that year-over-year prices have increased after falling for the previous 52 consecutive months.

Miami’s multi-million dollar luxury market, houses and condos that sold for $2 million or more, was down 25.3 percent from the previous month and down 21.4 percent from a year ago.

Tags: existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

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November 15, 2012 (Shirley Allen)

Home sales in the region typically decline around ten percent between August to September and were 14.7 percent lower than Miami’s average September sales rate.

The price that cash buyers paid for the homes they purchased in September increased to $112,500 from $106,200 in August and was up from $90,000 in September of last year.

The overall median price paid for new and resale homes and condos in September was $150,000, which was up from $146,000 in August and up from $130,000 in September of last year.

Miami’s multi-million dollar luxury market, houses and condos that sold for $2 million or more, was down 25.3 percent from the previous month and down 21.4 percent from a year ago.

Tags: existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

INSIDER CAR BUYING TIPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.

BUYING VS LEASING

There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.

DEALER OR BANK FINANCING

Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.

BUYING ON THE INTERNET

Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.

THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME
IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.

FIND THE CREDIT CARD THAT'S RIGHT FOR YOU

THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.

YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

November 15, 2012 (Shirley Allen)

Home sales in the region typically decline around ten percent between August to September and were 14.7 percent lower than Miami’s average September sales rate.

The price that cash buyers paid for the homes they purchased in September increased to $112,500 from $106,200 in August and was up from $90,000 in September of last year.

The overall median price paid for new and resale homes and condos in September was $150,000, which was up from $146,000 in August and up from $130,000 in September of last year.

Miami’s multi-million dollar luxury market, houses and condos that sold for $2 million or more, was down 25.3 percent from the previous month and down 21.4 percent from a year ago.

Tags: existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.

INSIDER CAR BUYING TIPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.

BUYING VS LEASING

There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.

DEALER OR BANK FINANCING

Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.

BUYING ON THE INTERNET

Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.

FIND THE CREDIT CARD THAT'S RIGHT FOR YOU

THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.

YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS