The Real Deal Miami

U.S., Miami-area home prices rise: CoreLogic

November 06, 2012 12:00PM

Home prices nationwide, as well as those in the Miami area, rose in September, according to a CoreLogic report released today. U.S. prices, including distressed sales, increased 5 percent year-over-year in September; that marks the biggest increase since 2006 — surpassing last month’s milestone.

September’s numbers also mark the seventh consecutive year-over-year increase in U.S. home prices. And excluding distressed sales, nationwide home prices also climbed 5 percent year-over-year.

“So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market,” said CoreLogic President and CEO Anand Nallathambi, in the report.

Month-over-month, however, prices slipped 0.3 percent with distressed sales included and 0.5 percent excluding them.

The Miami-Miami Beach-Kendall region also saw home-price increases. Including distressed sales, prices rose 10.2 percent in September compared to a year ago — the same year-over-year rise when excluding distressed sales in the region. — Christopher Cameron