CoreLogic: Miami metro home prices rose 9.6 percent in June

Home prices in the Miami-Miami Beach-Kendall area, including distressed sales, jumped 9.6 percent in June compared to the same period in 2011, according to a new report from CoreLogic. Excluding distressed sales, prices increased by 8.1 percent during the same period. Nationally, home prices rose 2.5 percent in June. “Home prices are responding positively to reductions in both visible and shadow inventory over the past year,” said Mark Fleming, chief economist for CoreLogic. “This trend is a bright spot because the decline in shadow inventory translates to fewer distressed sales, which helps sustain price appreciation.” — Alexander Britell