Miami metro area home prices outpace other US cities

Home prices in Miami just keep on going up, according to a newly released S&P Case-Schiller indices.

Prices in the metro area rose 9.5 percent in October from 2013 – nearly doubling the national gain of 4.6 percent. Miami-area home prices are rising faster than other cities, the Miami Herald reported, though the pace has slowed from last year.

“After a long period when home prices rose, but at a slower pace with each passing month, we are seeing hints that prices could end 2014 on a strong note and accelerate into 2015,’’ David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said in a statement.

The S&P Case-Schiller indices track prices of single-family homes that have sold at least twice. [Miami Herald] — Katherine Kallergis