Sales of condominiums in the United States are rising, despite ongoing volatility in the nation's housing market. Real estate industry leaders say condo sales rose more than 30 percent over the past year ending in May. A surge in purchases in Miami is being led by overseas investors.
Scores of condominium buildings dot the skyline of Miami. Many of these towers were built before the US housing market faltered, and sat empty as credit dried up. But the National Association of Realtors reports international buyers are now driving a recovery.
Angel and Santiago Herrera are brothers from Venezuela. In March, they bought 39 condos in this Miami high-rise, taking advantage of rock-bottom prices. They are now banking on values beginning to pick
