South Florida Home Prices Rise More Than U.S. Overall
Jun 02, 2014 June 02, 2014
The price of homes in the South Florida area has risen 16.2% between March 2013 and March 2014, according to reports from Standard & Poor's Case-Shiller Index.
The Case-Shiller Miami Index, which tracks real estate data in Broward county, Palm Beach county, and Miami-Dade county, has increased 1.6% between February and March when seasonally adjusted.
Nationwide, prices for homes have risen 10.3% from March 2013 to March 2014.
The national index, and composite index, which cover 10 and 20 major metropolitan areas respectively, “saw their annual rates of gain slow significantly,” a representative from Standard & Poor's Dow Jones Indices said.
The Standard & Poor's Case-Shiller Home Price Indices are house prices indices for repeat-sales throughout the United States. Standard & Poor have multiple Case-Shiller Indices, including a national home price index, the 10- and 20-city composites, and 20 individual metropolitan area indices.