Despite a 27.2% Drop in Nationwide Real Estate, South Beach Homes Remain Stable
The National Association of Realtors recently released a report stating that the sale of existing homes in the U.S. dropped by 27.2% in July of this year. While this drop seemed relatively extreme, there are other significant factors to consider.
First, this figure was released just after the expiration of the federal home-buyer tax credit, while prices of homes continued to increase. While the combination of these factors likely had the largest influence on sales, it is important to consider that this figure is an average of homes all over the country.
South Florida, and Miami in particular, has been ranked with Las Vegas and other infamously hard-hit areas for real estate. However, the market for South Beach condos and homes has remained impressively stable in recent years. When media outlets report these types of sales figures, it is important to research the specific market in which you are searching. The South Beach real estate market continues to offer a wide variety of exquisite condos and homes worthy of investment. In this market, South Beach real estate remains a viable investment opportunity.
Famous for its gorgeous beaches, nightlife, culture and glamour, South Beach continues to be one of the nation’s most desirable areas in which to live, work and play. Find great deals on Miami Beach condos for sale lining exciting Collins Avenue, or find a great cozy home tucked just away from the hustle and bustle of the area’s more populated areas. No matter what you’re searching for, real estate in South Beach is sure to have the perfect condo, home or investment property for you.
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