The Real Deal Miami

Miami area home prices up 8.6 percent from last year

May 08, 2013 03:00PM

Kendall, Fla.

Home sale prices in the greater Miami area increased 8.6 percent in March year-over-year, according to numbers from CoreLogic. Compared to the previous month, prices in the area — which includes Miami, Miami Beach and Kendall — were up a mere 0.3 percent, including distressed sales, the data provider said.

Not including distressed sales, the CoreLogic Home Price Index found prices went up by 15.6 percent year-over-year and 2.8 percent month-over-month.

Across the U.S., March saw the largest year-over-year increase since March 2006, the firm said. Home prices nationwide jumped 10.5 percent from the previous March. Several Western states, such as California and Arizona, made significant gains. Nationwide home prices increased by 1.9 percent from February. —Mark Maurer