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3Q - 2013 Miami Sales

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Report Summary

Miami housing prices pressed to five-year highs and sales reached their second most quarterly total since 2006. Over the past three years, the market share of distressed sales has fallen by half, something unimaginable a few years ago as the market continues to recover. Despite the rise in non-distressed sales, cash remains king in nearly two thirds of all sales. Inventory continued to fall and properties sold at their fastest pace in more than seven years. Based on the current key drivers of an improving regional economy and the international consumer, we anticipate an active market over the coming quarters.

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