Case-Shiller: Miami home prices rise 6.7 percent

Miami home prices rose 6.7 percent in August, according to the latest Home Price Index data from Standard and Poor’s/Case-Shiller released today. The increase, which was accompanied by a 1.0 percent increase over the previous month, was the fourth-biggest year-over-year improvement in the country. The 20-city composite saw an annual price increase of 2 percent compared to August 2011, with 18 of the 20 cities seeing improved prices. “Home prices continued climbing across the country in August,” said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices. “The sustained good news in home prices over the past five months makes us optimistic for continued recovery in the housing market.” — Alexander Britell