Standard & Poor’s/Case-Shiller: Miami home prices rise 3.2 percent

Home prices in the Miami area rose 3.2 percent in April compared to the same period in 2011, according to a report from the Standard & Poor’s/Case-Shiller Home Price Indices. Nationally, home prices increased 1.3 percent in April. Miami’s price index of 141.33 was 0.4 percent higher than in March 2012. “With April 2012 data, we finally saw some rising home prices,” said David Blitzer, chairman of the Index Committee at S&P Indices. “While one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a good sign.” — Alexander Britell