The Real Deal Miami

Lowest SF home prices since the boom

January 25, 2011 11:14AM

According to the S&P/Case-Shiller Home Price Index, prices in
Miami-Dade, Palm Beach and Broward counties fell 0.2 percent from
October, and 3.5 percent from last year, the lowest price level in the
region since late 2005 to early 2006, one of just eight metro areas in
the country to see similar drops. “Certainly eight cities setting new
lows, and with the only positive news concentrated in southern
California and Washington, D.C., the data point to weakness in home
prices,” said David Blitzer, chairman of the Index Committee at
S&P, in a statement. The index lags Florida Realtors data by about a
month, and records prices of the same house over time.