Miami home prices grow in April, but begin to slow

Miami saw an 0.9-percent increase in prices from March to April

TRD MIAMI /
Jun.June 30, 2015 12:45 PM

For the first time this year, Miami’s growing home prices have slowed their ascent.

The metropolitan area saw an 0.9 percent increase in prices from March to April, marking an 0.1 percent drop in growth compared to the previous month.

The figures might seem small, but the rate of increase in February grew 0.4 percent, and again in March by 1 percent, according the S&P Case-Shiller’s Home Prices Indices.

Monthly and year-over-year gains were down compared to March both in the city and throughout the United States.

Miami’s home prices were 8.5 percent higher in April compared to the same month last year, but represented the fourth highest among the top 25 markets in the country. In March, the year-over-year gain was 8.7 percent.

David M. Blitzer, the managing director and chairman of the Index Committee for S&P Dow Jones Indices, wrote in last month’s report that home prices were rebounding, and that a price bubble has not formed.

For April, Blitzer writes that consumers are unsurprised by the growing home prices, and that sales have continued to climb.

“Home prices continue to rise across the country, but the pace is not accelerating,” Blitzer said in the report. “Recent housing data is positive. Sales of new and existing homes are rising in recent reports and construction of new homes enjoyed strong gains in May. At the same time, the proportion of new construction that is apartments rather than single family homes remains high.” — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Zillow CEO Rich Barton (Credit: iStock)

Zillow Offers launches in South Florida

Zillow Offers launches in South Florida
(Credit: iStock)

Rough quarter: Resi sales fall in Broward, increase slightly in Miami-Dade

Rough quarter: Resi sales fall in Broward, increase slightly in Miami-Dade
Miami skyline (Credit: iStock)

Bringing some sunshine to South Florida’s opaque resi report outlook

Bringing some sunshine to South Florida’s opaque resi report outlook
June residential sales plummet (Credit: iStock)

Resi sales plummet across South Florida’s three counties in June

Resi sales plummet across South Florida’s three counties in June
South Florida skyline (Credit: iStock)

South Florida resi markets reported choppy sales in Q2: Elliman

South Florida resi markets reported choppy sales in Q2: Elliman
The Miami skyline (Credit: iStock)

South Florida home sales rise in May as price growth slows

South Florida home sales rise in May as price growth slows
Coco Amar

May home sales rise almost 10% in Naples amid eastward market shift

May home sales rise almost 10% in Naples amid eastward market shift
Brenda Fioretti, managing broker at Berkshire Hathaway HomeServices Florida Realty (Credit: LinkedIn)

April sales of Naples-area houses and condos rose 12.8% as median price fell

April sales of Naples-area houses and condos rose 12.8% as median price fell
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...