Miami had the strongest showing among 20 cities for home prices in August, according to the S&P/Case-Shiller index.
Prices for homes in Miami increased 10.5 percent in August from a year ago, the Miami Herald reported, achieving the highest annual gain among 20 cities tracked by the index. But there’s a wrinkle: despite the gains in prices, the pace appears to be slowing. In February, home prices were up 16 percent over last year, the report said.
There was a slight increase of 0.3 percent from July to August for home prices in Miami-Dade, Broward and Palm Beach, the three counties that make up the Miami index. This reflects a more sluggish pace than the 0.8 percent recorded from June to July. [Miami Herald] – Jennifer White Karp