Housing prices are on the rise in South Florida. According to a recent report, housing prices saw a spike of 16.5% in November compared to just one year ago.
These figures represent the 22nd consecutive month that Miami-Dade, Broward, and Palm Beach counties have experienced a year-over-year increase in house prices. As part of a nationwide study, 20 metro areas were tracked. The highest jump occurred in Las Vegas, where housing prices increased by 27.3%.
It should be noted that the index upon which the report was based, the Standard & Poor's/Case-Shiller index, does not include gains in prices for condominiums.
Source: sun-sentinel.com