Miami ranks fifth in home price growth for July: report

South Florida market saw biggest gains in February

TRD MIAMI /
Sep.September 29, 2015 12:00 PM

South Florida ranked fifth in the nation for rising home prices during July, but the region’s growth has steadily slowed for the first half of 2015.

According to the S&P/Case-Shiller Home Price Indices, the region saw a 7.3 percent growth in home prices during July, compared to the same month last year.

That’s a decrease from the 7.7 percent increase in June, 8 percent in May, 8.5 percent in April, 8.7 percent in March and and 9.2 percent in February. Analysts are saying that curbing price growth could signal a correction in the market, which saw double-digit increase in 2013 and 2014.

Seasonally adjusted data shows that the Miami metropolitan area, which includes Broward, Palm Beach and Miami-Dade counties, actually had a 0.3 percent drop in prices from June to July.

The metropolitan areas that reported the highest year-over-year growth in July were San Francisco with 10.4 percent, Denver with 10.3 percent, Dallas with 8.7 percent and Portland with 8.5 percent, according to the report.

Miami tied for fifth place with Seattle, which also saw 7.3 percent gains year-over-year.

Nationally, home prices increased by 4.7 percent during July — a slight bump from the 4.5 percent growth in June.

“Prices of existing homes and housing overall are seeing strong growth and contributing to recent solid growth for the economy,” David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, wrote in the report. “The Sunbelt cities  Miami, Tampa, Phoenix and Las Vegas  which were the poster children of the housing boom have yet to make new all-time highs.”


Related Articles

arrow_forward_ios
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
Greg Pinkalla and ORA Flagler Village Apartments (Credit: Google Maps)

Fairfield Residential sells new Flagler Village apartments for $92M

Fairfield Residential sells new Flagler Village apartments for $92M
Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon
arrow_forward_ios

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

Loading...