Miami is below the S&P/Case-Shiller index of 20 U.S. cities’ average appreciation over a decade, with the average home in July worth 11 percent more than in July 2003, compared to the cities’ average of 14 percent more.
The biggest gainers were Seattle and Portland, tied with 34 percent growth, according to a graph in the New York Times, mapping the data released Sept. 24.
Annual leaders in the last 12 months have been Las Vegas and San Francisco, with 28 percent appreciation and 25 percent appreciation respectively.
While Las Vegas is 49 percent below its peak level of prices, Miami remains 40 percent below the peak. Currently at their peak levels, Denver and Dallas are the only cities in the index who are not at depreciated levels compared to the peak of the market, the graph showed. [NYT] — Emily Schmall