Miami Condo Market and Lifestyle Updates
Miami Home Prices Rise 10.5% in August, but Price Gains Are Slowing

Miami Home Prices Rise 10.5% in August, but Price Gains Are Slowing

by Sep Niakan | November 10, 2014

Miami home prices are having biggest annual gain among the 20 cities tracked by S&P/Case-Shiller index.

Miami’s home prices have risen 10.5% in August since a full year before.

Even though Miami is higher than the rest of the 20 cities in price gains, the pace has slowed for them as well.

In February, prices of homes in Miami jumped 16% since the year before.

Home prices in Miami-Dade, Broward, and Palm Beach rose 0.3% from July to August according to the index. That statistic is lower than the 0.8% increase that was in the June to July time frame.

The 10-city composite index went up 5.5% since last year, and the 20-city comopsite index went up 5.6% during the same time.

“The deceleration in home prices continues,” David Blitzer, the chairman of the S&P Dow Jones Indices committee said, “Despite the weaker year-over-year numbers, home prices are still showing an overall increase, as the national index increased for its eighth consecutive month.”

The S&P/Case-Shiller index follows the re-selling of single family homes that have sold at least twice.

 

Source: miamiherald.com

Photo credit: worldpropertyjournal.com

Recent posts

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. ...

Real Estate News

Projects That Will Change the Way We Look at Wynwood, Forever!

by Sep Niakan | December 28, 2016

We all know Wynwood as the friendly, hipster neighborhood splashed with the best street art in the world. It’s where we all go for our art fix, browse far-out finds and linger around for a couple of craft beers. But, how about shopping,...