On an annual and monthly basis, home sales in metro Miami slipped, according to DataQuick - one reason likely being an increase in the median sales price from the year before, which was the first such rise in more than four years.
The report indicates more than 7,400 homes for sale came off the market in Miami-Dade, Palm Beach and Broward counties. The sales total marked a 17.1 percent decline from December but only a 3.3 percent dip from a year earlier.
Pricing may have led to the decreases in home sales from the month and year before, property data from the firm shows, as the median prices of resale homes sold in January was $162,000. When including all homes sold, the median was $130,000.
The economy is improving in various ways in South Florida, a report by McClatchy Newspapers states. Some economists told the news source improved housing figures and drops in unemployment throughout the region should better the local market this year.