Case Shiller Index: January 2013: Shows Strong Year-Over-Year Price Appreciation:

The US housing market continues to show price appreciation on a year-over-year basis in January 2013, according to the Case Shiller Housing Index.

The US housing market was up in the range of 7.0% to 8.0% during January 2013 over January 2012. 

The South Florida housing market remains strong with almost 1.0% sequential growth and almost 11.0% year-over-year growth in January 2013.

The Case Shiller Report stated, "economic data continues to support the housing recovery.  Single-family home building permits and housing starts posted double-digit year-over-year increases in February 2013.  Despite a slight uptick in foreclosure filings, numbers are still down 25% year-over-year.  Steady employment and low borrowing rates pushed inventories down to their lowest post-recession levels."

The data from the report is in line with what we have been stating during the past six months or more about the activity in the local South Florida market.  Inventory levels continue to be low and buyers are trying to get in before rates rise. 

A look at some of the markets we focus on:

Jan-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.8	0.10%	4.00%
Chicago	111.62	-0.70%	3.30%
Miami	153.51	0.80%	10.80%
Minneapolis	124.95	-0.20%	12.10%
New York	161.64	-0.50%	0.60%
Tampa	135.2	0.20%	8.90%
Composite 10	158.72	0.20%	7.30%
Composite 20	146.14	0.20%	8.10%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


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Lang Realty
561-247-3550

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