Miami Real Estate Outlook Bright

The outlook for real estate in Miami is bright, according to the Times Online, the online version of the Times Newspapers, Ltd., published in London. The January 18th article states that real estate agents in Florida are reporting the first signs of recovery.

Michael Cannon, director of Integra Realty Resources, a valuation company in South Florida said that “We’ve seen continuing increases in sales volume for six months. The market peaked in the second half of 2004 and bottomed out in the second half of 2008”.

Of course, the pundits are always ready with their commentaries, and no one can predict the future, but many realtors are beginning to see buyers coming back into the marketplace. They are bargain hunting, and with good reason. The real estate market has never been worse, at least not since before most of us were born. If the bottom could be accurately predicted, everyone would be rich. It’s not that easy.

It does make sense, however, that realtors doing business every day, do have some valuable input, and many of them are reporting more activity. That is going to translate into an increase in sales at some point, because more and more bargain hunters are beginning to appear in the marketplace. Real estate closings and pending sales over the next few months should be a pretty good barometer of what is to come in 2009 with regards to the housing market in Miami.