 Broward County single-family home median prices increased year-over-year in May 2020 as home sales saw expected declines because of the global COVID-19 situation, according to the MIAMI Association of Realtors MIAMI and the Multiple Listing Service MLS system. MIAMI PRWEB June 22, 2020 Broward County single-family home median prices increased year-over-year in May 2020 as home sales saw expected declines because of the global COVID-19 situation, according to the MIAMI Association of Realtors MIAMI and the Multiple Listing Service MLS system. While the latest data shows lower levels of closed sales compared to a year ago, new pending sales in May rebounded in comparison to April. New pending sales for Broward single-family homes decreased 9.5, an improvement over the April decrease of 54.7. New pending sales for condos decreased 33 in May, an improvement over the 63.8 decrease in April. The Broward County real estate market is already experiencing a remarkable recovery as evidenced by surging pending sales since mid-April despite the COVID-19 impact on May sales, Broward MIAMI President Sharon R. Lindblade said. The robust fundamentals of the South Florida housing market, pent-up demand and low mortgage rates will lead to increased buying activity in the coming months. Pending sales, which started to surge in mid-April and are stronger than they were before the COVID-19 stay home orders, are expected to result in rising closed sales in the next couple of months. Mortgage applications are on the rise in South Florida and nationally and the Miami mega region continues to see additional homebuying interest from the Northeast. Nationally, mortgage applications to purchase a home rose 4 last week from the previous week and were a remarkable 21... 