Miami Condo Market and Lifestyle Updates
SoFla home prices rise again in national index

SoFla home prices rise again in national index

by Sep Niakan | January 02, 2014

Robust home price gains continued across South Florida in October, a new report shows.

The Standard & Poor's/Case-Shiller home price index for Palm Beach, Broward and Miami-Dade counties rose 15.8 percent from a year ago. It was the 21st consecutive month with an annual increase.

All 20 metro areas nationwide tracked by the index saw year-over-year improvement. Las Vegas posted the highest jump at 27.1 percent. San Francisco was second at 24.6 percent.

Only South Florida and Charlotte saw larger price increases in October than September.

The narrowing of prices on a monthly basis across most of the country indicates that "we are living on borrowed time and the boom is fading," David M. Blitzer, chairman of the index committee at Standard & Poor's, said in a statement.

South Florida real estate agents also expect a less-frenzied market in 2014.

Judy Trudel, an agent in Lighthouse Point, said prices won't fall, "but I don't think they'll climb at the crazy rate they have been."

The index, released on the last Tuesday of each month, follows the values of the same house over time. Some analysts say that's a better measure than releasing a median price for homes sold in a month, as local Realtor boards do.

The index does not include prices for condominiums and lags local Realtor board data by a month.

 

Source: sun-sentinel.com

Recent posts

Lifestyle

5 February Events in Miami You’ll Regret Not Planning For

by Sep Niakan | January 22, 2017

Welcome to the month of love! February’s here, and it’s time to get into celebration mode once again. With Valentine’s being the highlight of the month, Miami’s got a mixed bag of events that will help singles and couples...

Real Estate News

Could Cite in Edgewater Have New Hotel Neighbor?

by Sep Niakan | January 12, 2017

According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...

Real Estate News

Brickell Avenue Bridge Schedule, Traffic and Solutions -- All You Need To Know

by Sep Niakan | January 09, 2017

Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...

Real Estate News

9 Positive Signs for the Miami Real Estate Market in 2017

by Sep Niakan | January 08, 2017

Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...