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South Florida

Miami a leader in national price drop

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Home prices dropped in 24 of 25 U.S.
metropolitan areas in July, led by declines in Las Vegas, where prices plunged 33 percent.
Prices in Miami slipped 24.1 percent from a year
earlier, which was the third highest rate of price declines on the list.  New York-based real estate data company Radar Logic
said in a report yesterday that foreclosed properties accounted for
about 21 percent of sales in July, up from 5.6 percent a year earlier. In Miami it was 14 percent, and in New York it was 3 percent, Radar Logic said.