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Seasonal uptick in SF home prices

July 27, 2011 10:22AM

Home prices in South Florida saw a slight uptick in May compared to
April, according to the Standard & Poor’s/Case-Shiller Home Price Index,
but the increase may be seasonal. Prices in the tri-county area rose
1.2 percent from April to May, but fell 5.3 percent from May 2010. “We
see some seasonal improvements with May’s data,” said David Blitzer,
chairman of the index committee at S&P. “This is a seasonal period
of stronger demand for houses, so monthly price increases are to be
expected.” The index, which was created by economists Karl Case and
Robert Shiller, measures home prices in 20 major metro areas. [Sun
Sentinel]