The Real Deal Miami

Florida home prices fall 7.6 percent: report

August 03, 2011 11:23AM

Home prices in Florida fell by 7.6 percent in June, compared to the same
period in 2010, according to a CoreLogic’s Home Price Index. Excluding
distressed sales, however, Florida home prices fell by just 2 percent.
Nationally, home prices fell by 6.8 percent in June, although they fell
by just 1.1 percent excluding distressed sales. “While there is a
consistent and sustained seasonal improvement in prices over the last
three months, prices are lower than a year ago due to the decline in
prices after the expiration of the tax credit last year,” said Mark
Fleming, chief economist for CoreLogic. “The difference between the
overall [price index] and our index excluding distressed sales indicates
that the price declines are more concentrated in the distressed sales
market.” — Alexander Britell