The welcome signs of encouraging news regarding housing continue to trickle in amidst foreclosure news that’s not so welcome. In yet another sign that may prove vital for the construction of new Miami Beach real estate throughout the rest of this year, construction posted a surprising gain last month.
Thanks largely to multifamily homes, housing construction saw its most significant gain in over a year, a positive change of pace even if multifamily homes only account for barely twenty percent of the housing market. When it comes to single family homes in markets like Miami Beach real estate, new construction actually fell by slightly less than one percent. However, permits for single family beach homes and such actually increased which does bode well.
Despite the good news, foreclosures are still a major concern in markets like Miami Beach real estate and market analysts don’t believe these small gains will continue because of the troubles facing commercial real estate. Still, good news is certainly better than reading yet another upsetting figure highlighting the market woes.