Teo Palmieri is the broker-owner of Elite Ocean View Realty in Miami Beach.

Every week, we ask a Miami real estate professional for their thoughts on the top three stories from the week before. This week, we spoke with Teo Palmieri, broker-owner of Elite Ocean View Realty in Miami Beach.

Miami Agent (MA): We recently reported that all-cash purchases accounted for 63 percent of home sales in the Miami area in Jan. 2014. Do you envision all-cash purchases remaining as prevalent going forward. Why or why not?

Teo Palmieri (TP): I will say the trend will remain the same. We will continue to experience all-cash purchases because the wave of foreign national buyers (who account for most of the cash deals)  is not near an end. However, the banks are starting to loosen up the criteria to be qualified for a loan, and we see more and more applications getting approved. The banks are more willing to lend their money, so the amount of financed purchases might increase.

MA: Housing inventory rose 26.8 percent year-over-year in March, according to recent findings. Are you seeing inventory increase at a similar rate in your market? Why or why not?

TP: I don’t see  inventory increase in the market, most likely because there are plenty of buyers, and the properties – if priced well – don’t stay on the market long.

MA: Recent data suggests that asking prices continue to rise in Miami. Do you foresee asking prices dropping in 2014? Why or why not?

TP: Prices won’t drop in 2014. What I see is a slow down in the second half of the year, because we cannot keep up this pace. However, I see a healthy increase in price for the next two to three years.