According to a new report from the Miami Association of Realtors and Multiple Listing Service (MLS), Miami-Dade County had 1,354 single-family home sales in July 2015, which is just shy of its record of 1,390 transactions established last in June. Miami single-family home transactions surged 10.2 percent year-over-year in July 2015, from 1,229 to 1,354, while existing condominium sales increased 4.8 percent, from 1,403 to 1,471. Another factor contributing to growth is that 30-year fixed-rate mortgages edged down from 4.13 percent a year ago to 4.05 percent in July.
“A global city with the second-largest financial hub in the country, Miami continues to draw increased demand from international and domestic home buyers,” said Christopher Zoller, a Miami-based realtor and the 2015 Residential President of the Miami Association of Realtors. “South Florida’s improving job market and historic low mortgage rates are encouraging more end-users to buy property here.”
