The Miami Herald today reported that according to the S&P Case Schiller home price index, prices are up 4.4% from June 2011. Nationally, the annual growth rate was 1.2%. In South Florida, buyers are aware that with the inventory reduced to a 4-5 month supply of homes, price increases are inevitable. Buyers are returning to the market to take advantage of the current lower prices and historically low interest rates. The number of recent sales provides sufficient comparable sales to support a list price. Well priced homes are selling quickly and closer to list price. This is an excellent time to list a home for sale, and an ideal time to purchase.
