South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area: 2014

Sunday, December 28, 2014

Case Shiller Housing Index: September 2014: South Florida Home Price Increases Continues To Outpace US

The South Florida housing market saw a 0.6% sequential increase and a 10.3% annual increase in September 2014, according to the Case Shiller Housing Index. The Index reported the US saw flat sequential price increases and about 4.9% year-over-year home price increases during the same time frame; we used the Composite 10 and Composite 20 as the gauge for the US market.

David Blitzer, Managing Director of the Index Committee noted the US home price increases has been at a slower pace recently. He also noted the South Florida market "continues to impress" with a year-over-year gain of 10.3%.

The report stated, "as of September 2014, average home prices across the United States are back to their levels posted in the spring of 2005."

The report also noted, "measured from their June/July 2006 peaks, the peak-to-current decline for both Composites is approximately 15-17%. The recovery from the March 2012 lows is 28.8% and 29.6% for the 10-City and 20-City Composites."

Other areas of interest:

Sep-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	176.59	-0.10%	4.50%

Chicago	131.32	-0.20%	2.60%

Miami	189.4	0.60%	10.30%

Minneapolis	142.63	0.10%	3.10%

New York	178.14	0.00%	2.80%

Tampa	162.63	0.20%	5.40%

Composite 10	188.68	0.00%	4.80%

Composite 20	173.72	0.00%	4.90%

Source:
S&P Indices
Firserv

Call me today for more information.

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

Thursday, November 6, 2014

Case Shiller Home Price Index: August 2014: South Florida Has Strongest Year-Over-Year Growth in US During August 2014

The Case Shiller Home Price Index showed South Florida with the highest year-over-year increase in prices during August 2014. The South Florida market increased by 10.5% in August 2014 over August 2013, according to Case Shiller; this compares with a 5.6% increase for the Composite 20 and 5.5% increase for Composite 10. On a sequential basis, the South Florida market was up 0.3% versus 0.2% for the Composites.

David Blitzer, the Chairman of the Index Committee stated, "despite the weaker year-over-year numbers, home prices are still showing an overall increase, as the National Index increased for its eighth consecutive month." He went on to say, "Miami is now leading the cities with a 10.5% year-over-year return."

The average home price in the US was back to its level in the spring of 2005 in August 2014, according to Case Shiller.

Case Shiller also shows an approximate 16% to 17% decline from the peak level in June/July 2006. The increase off of the March 2012 lows is 28.8% for the Composite 10 and 29.5% for Composite 20.

Other areas of interest:

Aug-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	176.73	0.10%	5.00%

Chicago	131.46	0.40%	2.90%

Miami	188.24	0.30%	10.50%

Minneapolis	142.47	0.30%	3.90%

New York	177.55	0.40%	3.10%

Tampa	162.4	0.20%	5.50%

Composite 10	188.58	0.20%	5.50%

Composite 20	173.66	0.20%	5.60%

Source:
S&P Indices
Firserv

Thursday, October 16, 2014

Case Shiller Home Price Index: July 2014: South Florida Home Price Increases Outpace The US

The South Florida market saw home prices increase 0.8% on a sequential basis and 11.0% on an annual basis in July 2014, according to the Case Shiller Home Price Index. This compares with 0.6% and 6.7% for the US when looking at the Case Shiller Home Price Index Composite 10 and Composite 20.

David Blitzer, the Chairman of the Index Committee stated, " the broad based deceleration in home prices continued in the most recent data." He went on to say, "however, home prices continue to rise at two to three time the rate of inflation."

As of July 2014, the average home price in the US are back to levels posed in the spring of 2005, according to the Case Shiller Index.

Also, the Case Shiller Index shows peak-to-current decline of 16% to 17% for the US, which is off the peak level of June / July 2006.

The US home market has recovered by about 29% off the March 2012 lows for the Case Shiller Composites.

Areas of interest:

Jul-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	176.61	0.20%	5.70%

Chicago	130.71	0.60%	4.00%

Miami	187.69	0.80%	11.00%

Minneapolis	142.13	0.60%	5.40%

New York	177.02	1.10%	3.80%

Tampa	162.11	0.60%	7.20%

Composite 10	188.29	0.60%	6.70%

Composite 20	173.34	0.60%	6.70%

Source:
S&P Indices
Firserv

Tuesday, September 9, 2014

South Florida Renters Pay Among The Highest Percentage Of Income Towards A Place To Live

The Sun-Sentinel newspaper ran an interesting article on August 31, 2014 regarding South Florida renters. According to the piece, South Florida renters pay about 44% of their incomes towards rent. Zillow reported the national average was 30% of income going towards rent.

The ratio of rent to income for South Florida was third in the nation, on par with San Francisco and below Los Angeles (48%). According to the Sun-Sentinel article, which was quoting from a Zillow study, South Florida renters paid about 34% of income towards rent ten years ago and the national average was around 26% at the same time.

According to the Sun-Sentinel, the median monthly rent for Palm Beach County was $1,364 in 2014, up from $1,173 in 2011. Of note, the U.S. Department of Housing and Urban Development reported Palm Beach County's median household income was $63,300 in 2014, which is the same as in 2011. This means people in Palm Beach County have less discretionary income when compared with a few years ago.

Call me today for more information.

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

Wednesday, September 3, 2014

How Far Below The Peak Is The South Florida Real Estate Market?

Many people want to know if the home prices in South Florida have fully rebounded to the levels seen at the recent height of the market. According to the Case Shiller Housing Index report for the period ending June 2014, prices in the South Florida market are still "a third or more below their peak prices set almost a decade ago."

The Case Shiller report for June 2014 also commented on mortgage rates; it was stated that "rising mortgage rates won't send housing into a tailspin, but will further dampen price gains." My interpretation of the commentary is that the Chairman of the Index Committee, David Blitzer, foresees continued price increases to home prices in the near-term, but at a slowing pace-- even if mortgage interest rates rise.

Call me today for more information.

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

Case Shiller Housing Index: June 2014: South Florida Housing Market Price Increases Continue

The South Florida real estate market saw prices increase by 11.5% on a year-over-year basis in June 2014, according to the Case Shiller Index. This compares favorably with the US as a whole, which increased by 8.1% in June 2014 over June 2013, as measured by the Case Shiller Composite-10 and Composite-20, according to the Case Shiller Index.

However, the Case Shiller Index on a sequential basis shows the South Florida market was up only 0.6%, compared with 1.0% for the US in June 2014. All-in-all, the Index is showing continued price appreciation.

David Blitzer, Chairman of the Index Committee stated, "for the first time since February 2008, all cities showed lower annual rates than the previous month. Other housing indicators-- starts, existing home sales and builders' sentiment -- are positive. Taken together, these point to a more normal housing sector."

The average home price across the US in June 2014 is at the level of the spring of 2005, according to Case Shiller Index.

According to Case Shiller, the average national home price is approximately 17% in July 2014 off the peak of June / July 2006. The Index also shows the national composites are about 27.8% to 28.5% higher in June 2014 when compared with the March 2012 low point.

Areas of interest:

Jun-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	176.28	0.50%	7.00%

Chicago	129.83	1.40%	6.60%

Miami	186.39	0.60%	11.50%

Minneapolis	141.27	0.60%	6.70%

New York	175.26	1.60%	4.30%

Tampa	161.25	1.20%	9.10%

Composite 10	187.19	1.00%	8.10%

Composite 20	172.33	1.00%	8.10%

Source:
S&P Indices
Firserv

Call me today for more information.

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 licensed Florida real estate agent and 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, 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

Tuesday, August 26, 2014

Case Shiller Index: May 2014: South Florida Home Price Appreciation Continues To Be More Robust Than Overall US Market

While the US market as gauged by the Case Shiller Composite-10 and Composite-20 was up 1.1% on a sequential basis in May 2014, the South Florida market showed appreciation of 1.2%. On an annual basis, South Florida saw home prices appreciate by 13.2% in May 2014, over May 2013, versus only a 9.3% increase for the US (i.e., Composites).

For the US a whole, David Blitzer, Chairman of the Case Shiller Index Committee pointed out, "home prices rose at their slowest pace since February of last year." He further stated, "housing has been turning in mixed economic numbers in the last few months. Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag."

Concerning average US home prices, Case Shiller notes they are back to summer of 2004 levels. Regarding the decline since the peak prices of June/July 2006, the Composites have declined by about 17% to 18%, according to Case Shiller. The Index also notes, price recovery for the US market from the March 2012 low has been around 26.5% to 27.3%.

Other areas of interest:

May-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	175.3	1.10%	8.20%

Chicago	127.96	1.50%	8.50%

Miami	185.32	1.20%	13.20%

Minneapolis	140.37	1.30%	8.40%

New York	172.53	1.00%	4.80%

Tampa	159.33	1.80%	10.20%

Composite 10	185.33	1.10%	9.40%

Composite 20	170.64	1.10%	9.30%

Source:
S&P Indices
Firserv

Call me today for more information.

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, 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

Case Shiller Index: April 2014: South Florida Price Appreciation Continues To Outpace US Overall On Year-Over-Year Basis

Home prices in the South Florida market grew by 14.7% in April 2014 over April 2013, according to the Case Shiller Housing Index; this compares with 10.8% for the US market (i.e., Composite-10 and Composite-20). On a sequential basis, the South Florida market kept pace with the overall market at 1.1%, according to the Case Shiller Index.

According to Case Shiller, home prices in the US are back to the summer of 2004. Measured off the June/July 2006 peak, the April 2014 Case Shiller report stated the peak-to-current decline for the US is 18% to 19%. The report went on to say the recovery from March 2012 lows is 25% to 26% for the US composites.

David Blitzer, Chairman of the Index Committee stated, "although the home prices rose in April, the annual gains, weakened... Overall, prices are rising month-to-month, but at a slower rate."

Mr. Blitzer's comments continued: "Near term economic factors favor further gains in housing: mortgage rates are lower than a year ago, the Fed is expected to keep interest rates steady until mid-2015 and the labor market is improving. However, housing is not back to normal: prices are being supported by cash sales, low inventories and declining foreclosures and REO sales."

Other areas of interest:

Apr-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	173.51	2.90%	9.00%

Chicago	125.98	2.00%	10.70%

Miami	183.19	1.10%	14.70%

Minneapolis	138.67	1.10%	9.40%

New York	170.76	0.10%	5.40%

Tampa	156.56	1.20%	10.20%

Composite 10	183.28	1.00%	10.80%

Composite 20	168.71	1.10%	10.80%

Source:
S&P Indices
Firserv

Call me today for more information.

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, 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

Tuesday, July 29, 2014

Case Shiller Housing Index: March 2014: South Florida Price Recovery Outpacing The US

The Case Shiller Housing Index showed a 12.5% year-over-year increase for March 2014 over March 2013. The South Florida market increased 16.2% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was up 1.4% and the US market was up by about 0.8%, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "year-over-year changes suggest that prices are rising more slowly." He also said, "housing indicators remain mixed. April housing starts recovered the drop in March but virtually all the gain was in apartment construction, not single family homes. New home sales also rebounded from recent weakness but remain soft. Mortgage rates are near a seven month low but recent comments from the Fed point to bank lending standards as a problem. Other comments include arguments that student loan debt is preventing many potential first time buyers from entering the housing market."

Home prices for the US were back to mid-2004 levels in February 2014, according to Case Shiller. Measured from the June/July 2006 peak, the US Composite is about 19%-20% off the high level. The recovery from the March 2012 low is about 24%, according to Case Shiller.

Some area of interest:

Mar-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change

Boston	168.54	0.90%	8.20%

Chicago	123.42	0.70%	11.50%

Miami	181.11	1.40%	16.20%

Minneapolis	137.33	1.00%	11.50%

New York	170.75	-0.30%	6.60%

Tampa	154.79	0.10%	10.70%

Composite 10	181.43	0.80%	12.60%

Composite 20	166.8	0.90%	12.40%

Source:
S&P Indices
Firserv

South Florida Real Estate- Buying and Selling Homes in the Boca Raton Area