As we have been discussing in prior posts, the South Florida housing market remains weak. According to the latest Case-Shiller Housing Index numbers, South Florida home prices fell for the sixth consecutive month in January 2011; falling to a new five-year low.
The Index's Miami metropolitan area, which includes Miami-Dade, Broward and Palm Beach counties — fell 1.3% between December 2010 and January 2011. On a year-over-year basis, home prices fell 4.7% in January 2011, according to the Case-Shiller Index.
According to the Case-Shiller Index, nation-wide home prices fell 1.0% on a sequential basis in January 2011. On a year-over-year basis the US housing market was down 3.1% in January 2011. Every market in the Case-Shiller Index experienced a sequenital decline in January 2011 with the exception of Washington D.C.
According to the Case-Shiller Index, US housing markets of interest were as follows:
January 2011 January '11/December'10 December/November
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 152.07 -0.3% -0.2% -0.6%
Chicago 115.78 -1.8% -1.4% -7.5%
Miami 141.30 -1.3% -0.5% -4.7%
Minneapolis 113.21 -3.4% -1.5% -7.6%
New York 166.30 -0.9% -1.0% -3.0%
Tampa 128.52 -1.0% -2.7% -7.0%
Composite-10 154.65 -0.9% -0.9% -2.0%
Composite-20 140.86 -1.0% -1.0% -3.1%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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