MIAMI SALES UP 22%
FAR (Florida Association Of Realtors) has reported Miami-Dade County sales of single family homes sales were up 22% in August 2008 versus August 2007 according to The Miami Herald. Buyers are returning to the market because of the lower prices according to the article. This was the first month since June 2004 that sales have not declined. The median price of a single family home in Miami-Dade fell 30% to $276,000 in August 2006 versus $392,900 in August 2007. Experts disagreed as to whether or not this indicated that the market has hit the bottom because the inventory of unsold homes actually increased. According to the article the inventory of unsold homes across the Country actually did drop. There is one indisputable fact; i.e., that we will never know what/where/when the bottom is, or was until prices begin to rise!u