Who says no one is buying Miami Beach condos? The few who share such a sentiment may be incorrect if recent numbers in October are to be believed. Apparently people in the U.S. are putting down their John Hancock to buy a home in unprecedented numbers. Per the National Association of Realtors, October signaled a ninth straight month of increases in the amount of signed contracts.
If such news reinforces your decision to buy Miami Beach condos, you should keep in mind that these are not sales that have actually closed so there’s still that small window of the deal not actually closing. However these numbers tend to be a reliable indicator of housing market activity and where it may be headed so it does seem like things may continue to incrementally improve.
The $8,000 first time home buying tax credit remains the usual suspect in the cause of the welcome increase, spurring demand among a large demographic of people like financially qualified former renters who are looking to transition into genuine homeowners. Now that the credit eligibility has been extended into the middle of next year, there may be even better news to come as more and more people snap up Miami Beach condos.