Nearly six years after the housing crisis, South Florida home values remain 36 percent below their June 2006 peak. And a new study by Zillow claims that they probably won’t get back to that level until mid-2019.
The region, which includes Palm Beach, Broward and Miami-Dade counties, hit bottom during the third quarter of 2011, according to the Palm Beach Post. And despite impressive gains, price increases have slowed of late.
South Florida, however, will likely see higher price gains than the nation, according to Zillow. South Florida home values are expected to increase 6.1 percent over the next year. Nationwide home values will gain just 4 percent. [Palm Beach Post] – Christopher Cameron