Rich Buyers Hitting Miami Real Estate Again

Interestingly enough, the Miami real estate market be coming back. Take a look at this quote in a recent NY Times article:

Home sales in the metropolitan area during the first half of the year rose 16 percent from 2010 for the best spring since 2007, according to the research firm DataQuick, far outpacing the negligible growth in the rest of the country. Two-thirds of the sales were all cash.

That’s a pretty big increase, and if the distressed properties are getting bought up, that’s a good indication that things are turning around, at least for the Miami real estate market. It seems there is quite a bit of foreign investor activity going on right now. I suppose with the American economy, commodities may be the most attractive thing to investors at the moment.

What do you think? Let us know in the comment area below.

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