The Real Deal Miami

Miami metro home prices rise 11 percent

June 05, 2012 10:30AM

Home prices in the Miami-Miami Beach-Kendall metropolitan area rose 11.1 percent in April compared to the same period in 2011, according to a new report from CoreLogic. Excluding distressed sales, year-over-year prices in the area jumped 7.1 percent in April compared to the same month last year. Statewide, Florida had the third-highest appreciation of any state in April, with a 5.5 percent increase in home prices. Nationally, prices were up 1.1 percent in April. “We see consistent month-over-month increases within our HPI and Pending HPI as one sign that the housing market is stabilizing,” said CoreLogic President Anand Nallathambi. “Home prices are responding to a restricted supply that will likely exist for some time to come — and optimistic sign for the future of our industry.” — Alexander Britell