Miami-Dade, Broward reach lowest home prices since 2004

A fall in median home prices in Miami-Dade and Broward counties to their lowest since 2004 is expected to entice sales in coming months, though many economists believe the market is at least a year from its bottom. The median price for a single-family home in Miami-Dade was down 24 percent from last year to $291,900 in April; in Broward it fell 18 percent to $298,100 over the same period. Sales were up 1.8 percent in Miami-Dade County compared to the previous month, while they were up 10 percent in Broward County.