According to the Miami Association of Realtors, Miami single-family home and condominium sales surged in October, exceeding record activity in 2013.
Existing-home sales rose in October for the second straight month. Above year-over-year levels for the first time in a year.
26,947 single family homes were flipped nationwide in the third quarter of 2014, representing 4.0 percent of all U.S. single family home sales.
Single-family housing production in October 2014 reached its highest level since November 2013.
Mortgage applications in the U.S. increased 4.9 percent from one week earlier, surprising many analysts.
U.S. builder confidence in the market for newly built single-family homes rose four points to a level of 58 this week.
Orlando Florida led the nation, followed by Raleigh, N.C. and Phoenix, Arizona for having the most affordable housing zip codes.
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The average fixed mortgage rate changed little from the previous week with the 30-year mortgage still hovering around 4 percent.
Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014.
Miami's residential real estate market remains consistent with record activity in 2013 due to strong demand.
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Foreclosure filings were reported on 123,109 U.S. properties in October.
Mortgage applications in the U.S. for new home purchases increased by 8 percent relative to the previous month.
Cash sales made up 33.8 percent of total U.S. home sales in August 2014, down from 36.4 percent in August 2013.
A new growth spurt is transforming North Beach into one of Miami's best up-and- coming neighborhoods.