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South Florida

South Florida home prices keep rising: S&P/Case Shiller

Home prices are rising
Home prices are rising

South Florida again ranked among the highest metropolitan areas for rising home prices, according to the S&P/Case Shiller Home Price Indices released Tuesday.

In February, the Miami area’s ranking was up 9.2 percent, year-over-year, and up 0.6 percent from January.

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The Miami metropolitan area came in third for the highest increase, after Denver and San Francisco, which reported the largest year-over-year gains, up 10 percent and 9.8 percent, respectively.

Nationwide, an S&P/Case-Shiller 20-city composite showed a 5 percent gain, year-over-year.

“Home prices continue to rise and outpace both inflation and wage gains,” said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “The S&P/Case-Shiller National Index has seen 34 consecutive months with positive year-over-year gains; all 20 cities have shown year-over-year gains every month since the end of 2012.” — Ina Cordle

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Case-shiller Home Prices Index