US Home Prices Continue to Climb, According to the Case Shiller Index

The US housing market continues to show solid growth, according to the Case Shiller Home Price Index.  Home prices increased by about 9.0% in February 2013 over February 2012; home prices were up about 0.4% on a sequential basis during February 2013, according to the Case Shiller Home Price Index.

The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average.  The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.

I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy.  The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth.  One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."

As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities.  The dearth of homes is pushing up prices and making for quick sales turnaround times.

Areas of interest are as follows:

Feb-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.89	0.10%	5.20%
Chicago	110.72	-0.80%	5.10%
Miami	153.97	0.30%	10.40%
Minneapolis	123.81	-0.90%	12.00%
New York	162	0.40%	1.90%
Tampa	136.33	0.60%	10.00%
Composite 10	159.24	0.40%	8.60%
Composite 20	146.57	0.30%	9.30%
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.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

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