Case Shiller Index: January 2014: Cold Weather Up North, Good For South Florida Real Estate Market

The Case Shiller report for January 2014 showed a similar trend as the December 2013 report.  The South Florida market was up 0.7% sequentially in January 2014 and was up 16.5% on a year-over-year basis.  The US housing market was essentially flat on a sequential basis in January 2014 and was up about 13.4% on a year-over-year basis.

David Blitzer, Chairman of the Index Committee, stated, "The housing recovery may have taken a breather due to cold weather."  He went on to say, "expectations and recent data point to continued home price gains for 2014.  Although most analysts do not expect the same rapid increase we saw last year, the consensus is for moderating gains."

I think the cold winter in the northern portion of the US will help drive demand in South Florida.  While the severe cold may have hurt sales in the US for the month, South Florida's home price increase outpaced the US as a whole on a year-over-year basis and sequentially in January 2014.  Based on indications from clients in the north, I expect a pick up in demand for the South Florida housing market due to the inclement weather during the past winter.  This could translate into an outperformance in price appreciation for the South Florida market vis-a-vis the US as a whole.

Other areas of interest:

Jan-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	167.83	-0.50%	9.10%
Chicago	123.73	-1.20%	10.80%
Miami	178.85	0.70%	16.50%
Minneapolis	137.25	-0.60%	9.40%
New York	172.05	0.10%	6.70%
Tampa	155.79	0.40%	14.90%
Composite 10	180.08	0.00%	13.50%
Composite 20	165.5	-0.10%	13.20%
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