South Florida home prices rose 16.5 percent from January 2013 to January 2014, according to the latest report from Standard & Poor’s/Case-Shiller.
The tri-county region was one of only seven metropolitan areas to show a gain in housing values from December 2013 to January 2014. Month-to-month prices rose 0.7 percent during that span. That hike is the second biggest increase after Las Vegas, which had a 1.1 percent month-to-month gain.
In fact, South Florida’s home prices are at the highest level since August 2008. Nationally, home price gains slowed, as severe winter weather took its toll.
“The housing recovery may have taken a breather due to the cold weather,” David Blitzer, chairman of the index committee at S&P Dow Jones, said in a statement cited by the Miami Herald. [Miami Herald] — Eric Kalis