Case Shiller Housing Index July 2013: South Florida Outpaces US Housing Market Price Appreciation On Year-Over-Year Basis

The South Florida housing market experienced a price increase of 13.7% in July 2013 over July 2012, according to the Case Shiller Index.  This compares favorably with about 12.4% price appreciation for the US market during the same timeframe, according to Case Shiller.

On a sequential basis the South Florida market did not keep up with the percentage price increase the the US market as a whole, according to Case Shiller.  The Index showed the South Florida housing market was up 1.2% in price appreciation for July 2013 over June 2013, with the US being up around 1.9%. 

Two interesting take-aways from the report, in my view.  First, according to the Case Shiller report, "more cities are experiencing slow gains each month than the previous month, suggesting that the rate of increase may have peaked.  Second, the report indicated it felt the rise in interest rates are affecting the US housing market.  However, the Fed's announcment of QE3 bond buying "will continue for the time being and may have only a limited, though favorable, impact on housing."

Other areas of interest:

July	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	167.02	1.40%	6.30%
Chicago	125.69	3.20%	7.80%
Miami	169.07	1.20%	13.70%
Minneapolis	134.91	1.80%	9.50%
New York	170.96	1.50%	3.50%
Tampa	151.17	2.30%	12.60%
Composite 10	176.52	1.90%	12.30%
Composite 20	162.49	1.80%	12.40%
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
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