South Florida Home Prices On The Rise

South Florida Home Prices On The Rise

Home values in Palm Beach, Broward and Miami-Dade counties inched up 0.2% from November, according to the Standard & Poor’s/Case-Shiller home price index.  In the rest of the nation home prices in 2011 ended on a downer.  In South Florida, the number of homes for sale has declined sharply over the past year.

Case-Shiller’s “Miami” real estate index was one of only two to increase between November and December.  While still down about 3% from a year ago, the December yearly decline was the lowest for 2011.

The monthly gain for December was up a measly . 2%.  But, out of the 20 metropolitan areas tracked by Case-Shiller, only Phoenix joined Miami in showing an increase in December.

Competition among buyers is heating up which is helping to stabilize prices in some areas.  Case-Shiller is one of the most respected measures of home prices because it tracks the price of the same house over time.

Let me assist you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected].