Boom or Bust: Miami

The first quarter stats for home sales and foreclosures in Miami indicate a downward trend for the former and an upward trend for the latter:

In February 2007, there were 12,430 single-family homes for sale, and 519 homes sold. The story was very similar with respect to condos. In February 2006, there were 13,436 condos for sale in Dade, and 965 condos sold. In February 2007, there were 22,025 condos for sale in Dade, and 617 condos sold. According to a recent published report, Florida foreclosure activity in February of 2007 was up more than 63% from January. That’s one foreclosure filing for every 382 households in Florida. There were 19,144 foreclosure filings in Florida during February, the most of any state.

View the full article here.