It is the first month-over-month rise of total pending sales since August 2022. Miami-Dade County total pending sales rose 35.5% month over month, from 1,688 in December 2022 to 2,288 in January 2023. It marks the most showings in a month since May 2022 (245,225 appointments).
Showing appointments in the Southeast Florida MLS, which is owned by MIAMI REALTORS®, jumped 54.5% month over month to 233,144 showings. Most South Florida Showing Appointments in a Month Since May 2022 markets are seeing decreasing prices, the Miami market is still very strong and still appreciating.” “Miami is shielded in a sense from interest rate hikes because of those fundamentals. “Miami is a unique market because of our high percentage of cash buyers, surging migration and soaring number of international and domestic buyers,” MIAMI Chairman of the Board Ines Hegedus-Garcia said. It takes up to 40 days for pending sales to close and not all pending sales and showing appointments end in deals. Miami real estate, which posted its second-most total home sales in history in 2022 despite mortgage rates more than doubling over the course of the year, can expect to see more closed sales over the next coming months. MIAMI - Two leading homebuying indicators – pending home sales and showing appointments- surged month over month in Miami-Dade County as the resilient South Florida market continues to illustrate its unique market demand in the face of elevated mortgage rates, according to January 2023 statistics released today by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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