US homes prices are back to the mid-2002 levels, according to the Case-Shiller Index.
On a year-over-year basis, the Case-Shiller Index showed home prices nationally fell 5.1% in 1Q:2011. On a sequential basis, home prices fell 4.2% in the US. The Case-Shiller National Index fell to a new recession low during 1Q:2011.
Locally, the South Florida market saw the price of homes drop 6.1% on a year-over-year basis in March 2011. This compares with a 6.9% decline in prices for the Tampa area during the same time frame.
Looking at some markets of interest:
March 2011 March/February February/January
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 147.36 -1.7% -1.5% -2.7%
Chicago 110.57 -2.4% -2.2% -7.6%
Miami 137.28 -0.8% -2.0% -6.1%
Minneapolis 105.57 -3.7% -3.3% -10.0%
New York 163.50 -0.9% -0.6% -3.4%
Tampa 127.08 -0.7% -0.8% -6.9%
Composite-10 151.66 -0.6% -1.2% -2.9%
Composite-20 138.16 -0.8% -1.1% -3.6%
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.
To receive more information on properties in the area, feel free to text me or call me at the number below.
If you are thinking of selling or buying a home, or require more information, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
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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