0
0
0

Miami Home Price Increases Among Nation’s Best in Case-Shiller

by Peter Thomas Ricci

The good news continued for Miami home prices, according to the latest Case-Shiller.

case-shiller-home-price-increases-may-housing-recovery

Home prices in the Miami area continued their ascent through May, according to the latest Case-Shiller Home Price Indices from Standard & Poor’s.

Not only were prices up 1.2 percent month-over-month in Miami, but the area’s 13.2 percent yearly growth from May 2013 was the third best in the nation, and far above the national averages.

A National Slowdown in Housing Prices

On the national scene, though, home prices continued to show signs of slowing down:

  • The 10- and 20-City Composites increased 9.4 and 9.3 percent, respectively, from last year.
  • Though surely a positive development, those increases are well below expectations, and down substantially from the 10.9 and 10.8 percent returns from the last Case-Shiller.
  • With the exception of Charlotte and Tampa, every metro area saw its annual rates decelerate.

Blitzer – “Slowest Pace Since February 2013”

David M. Blitzer, the chairman of the Index Committee at S&P Dow Jones Indices, said the latest Case-Shiller is the latest sign yet of a schizophrenic housing recovery.

“Home prices rose at their slowest pace since February of last year,” Blitzer said. “The 10- and 20-City Composites posted just over 9 percent, well below expectations.

“Housing has been turning in mixed economic numbers in the last few months,” Blitzer continued. “Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag. At the same time, the broader economy and especially employment are showing larger improvements and substantial gains.”

Read More Related to This Post

Join the conversation

New Subscribe

  • This field is for validation purposes and should be left unchanged.