South Florida home prices grow again in June

Growth trend has gradually curbed since beginning of 2015

TRD MIAMI /
Aug.August 25, 2015 12:45 PM

South Florida home prices saw another month of significant year-over-year growth during June, according to the S&P/Case-Shiller Home Price Indices.

Home prices in the area grew 7.7 percent during June, compared to the same month last year. That rate has gradually slowed in recent months, which analysts say could signal a correction in a housing market that has seen almost two years of double-digit increases.

On month-to-month basis, home prices in the Miami area grew 0.3 percent. May saw a 0.8 percent growth, and April had a 0.9 percent increase.

Nationally, home prices grew 4.5 percent year-over-year. The cities with the highest appreciation were Denver with 10.2 percent, San Francisco with 9.5 percent and Dallas with 8.2 percent.

“The missing piece in the housing picture has been housing starts and sales. These have changed for the better in the last few months,”  David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, wrote in the report.

“Sales of existing homes reached 5.6 million at annual rates in July, the strongest figure since 2007. Housing starts topped 1.2 million units at annual rates with almost two-thirds of the total in single family homes,” he added. “Sales of new homes are also trending higher. These data point to a stronger housing sector to support the economy.”

 

Related Articles

arrow_forward_ios
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein (Credit: Daily Beast | Getty)

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

PB Gardens condo community seeks yet another contractor to repair its buildings

PB Gardens condo community seeks yet another contractor to repair its buildings

arrow_forward_ios
Loading...