Home prices fall in Miami: Case-Shiller

Home prices in the Miami metropolitan area fell by 4.4 percent in November compared to the same period in 2010, according to the latest data from the Standard & Poors/Case-Shiller Home Price Index.”Despite continued low interest rates and better real GDP growth in the fourth quarter, home prices continue to fall,” said David Blitzer, chairman of the Index Committee at S&P Indices. “The only positive for the month was Phoenix, one of the hardest hit in recent years.” Compared to October 2011, however, the price drop in Miami was slight, at 0.5 percent. S&P’s report looked at housing data through the end of November. — Alexander Britell