Following the housing market is nearly as difficult as trying to determine where the stock market is headed next. The constant ups and downs have many wondering just what kind of a condition the Miami Beach real estate market is actually in and whether the encouraging numbers really do indicate that a recovery is on its way, if it’s not already in full swing.
When it comes to the housing market and Miami Beach real estate, it’s essential to be realistic. The recent facts do speak for themselves, indicating that the market has improved but there are still many factors that are up in the air and keep the market in a fragile state. Home sales have improved and the glut of unsold property has gone down a little but there are still many homeowners who are struggling to make mortgage payments or may be in the midst of foreclosure.
Because monthly figures remain so erratic there is no way to be certain that yes, the bottom has been reached. For the time being it’s still best to look at markets like Miami Beach real estate with cautious optimism and hope for the best.