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 |
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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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Michael Friedman
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Lang Realty
561-247-3550
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