Miami home prices jump 11 percent

Home prices in the Miami-Miami Beach-Kendall metropolitan area rose by 10.6 percent in March compared to the same period last year, according to a report from CoreLogic. Miami’s home price index, which includes distressed sales, also rose by 10.1 percent in February compared to February 2011. Nationally, the home price index fell by 0.6 percent last month. “While housing prices remain flat nationally, in many markets, tighter inventories are beginning to lift home prices,” said Anand Nallathambi, president and CEO of CoreLogic. Statewide, Florida had the fifth-highest appreciation in the country, with a 4.5 percent overall increase in prices. — Alexander Britell