New S&P/Case-Shiller data shows that Miami home prices grew 13.2 percent year-over-year in May.
Overall, South Florida home prices rose 1.2 percent from April to May, according to the Case-Shiller Miami index cited by the Miami Herald. That’s up from the 1.1 percent gain posted from March to April.
However, Miami’s year-over-year price gains have slowed. In February, home prices rose 16 percent from a year earlier compared to May’s 13.2 percent.
“Home prices rose at their slowest pace since February of last year,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. [Miami Herald] – Christopher Cameron