July’s Miami-area home prices flat: report

Miami-area home prices remained flat during July, according to the S&P/Case-Shiller Home Price Index, released today. The market saw its index level climb .7 percent between July and June to 147.88. The Miami home price index inched upward from its July 2009 level, climbing just .4 percent. Nationwide, the July index showed positive momentum year-over-year, even as prices remained flat compared to the previous month. The index’s 20-city composite climbed 3.2 percent year-over-year, while the 10-city composite climbed 4.1 percent. Compared to June 2010, the 20-city composite and 10-city composites climbed .6 percent and .8 percent, respectively. Case-Shiller doesn’t include co-ops or condos in its report. TRD