Miami Enjoys Back-to-Back Years of Record Setting Sales Pace in 2012

(Miami, FL) - According to the Miami Association of Realtors, Miami home sales set a new record in 2012, exceeding the previous record set in 2011 and even the height of the real estate boom in 2005.

The Miami real estate market cemented a strong comeback in 2012, as prices posted double-digit appreciation and sales rose despite a housing inventory shortage.

Year-end sales of single-family homes in Miami-Dade County rose 7.9 percent to 11,463 in 2012 compared to 10,625 in 2011.  Sales of condominiums in 2012 increased 1.2 percent to 16,383 compared to 16,187 in 2011