The Real Deal Miami

Zillow: South Florida home prices reach bottom

April 25, 2012 10:30AM

South Florida’s home prices have bottomed out, according to Zillow.com, the Palm Beach Post reported. “The last two years we’ve seen the rate of decline slow and now we’re seeing this uptick for the first time, where instead of sloping down, the curve is sloping up,” said Svenja Gudell, a senior economist at Zillow. The company projects South Florida prices to increase by 5.6 percent this year. The price rise is being driven by investment-seekers, according to Gudell. [Palm Beach Post]