International property buyers boosting sales market in miami

International buyers are having a positive effect on the real estate market in Miami, Florida, as pending home sales have increased in the state by 15% since a year ago.

Sales, including single family homes and condominiums, are also up 23 in May compared to the previous month according to the Miami Association of Realtors and the local Multiple Listing Service (MLS) systems.

‘International buyers increasingly are having a positive effect on the Miami real estate market, as sales continue to exceed last year’s levels, which were boosted by the homebuyers tax credit,’ said Jack Levine, 2011 chairman of the board of the Miami Association of Realtors.

‘Current figures corroborate the healthy market activity agents are experiencing first hand and the evident demand for local properties,’ he added.

Source: Property Community