Case Shiller Price Index: December 2013: Heat Remains In South Florida Real Estate Market

The South Florida real estate market continued to have price appreciation in December 2013, according to the Case Shiller Index.  The Index indicated there was almost a 1.0% sequential increase and a 16.5% year-over-year increase in December 2013.  This compares with a relatively flat prices on a sequential basis for the US and only a 13.5% annual increase in December 2013 for the US.

David Blitzer, Chairman of the Index Committee said, "The Case Shiller Index ended its best year since 2005.  However, gains are slowing from month-to-month and the strongest part of the recovery in home values may be over."

He went on to say, "Recent economic reports suggest a bleaker picture for housing.  Existing home sales fell 5.1% in January from December to the slowest pace in over a year.  Permits for new residential construction and housing starts were both down and below expectations."

We are noting here that the Florida market has shown some of its strongest year-over-year growth comparisons during the December 2013 timeframe.  A seasonally strong period for the South Florida market is the winter months; however, the comparison was with same period the previous year.  We think this shows the South Florida real estate market continues to be a strong market with upward momentum in pricing.

Here are other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	168.65	-0.10%	9.60%
Chicago	125.29	-0.50%	11.30%
Miami	177.57	0.90%	16.50%
Minneapolis	138.14	-0.70%	9.70%
New York	172.18	-0.30%	6.30%
Tampa	155.23	0.30%	15.80%
Composite 10	180.13	0.00%	13.60%
Composite 20	165.69	-0.10%	13.40%
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
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
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