Case Shiller Index: February 2014: South Florida Year-Over-Year Price Increase Still Outpacing US

The Case Shiller Housing Index showed a 13.0% year-over-year increase for February 2014 over February 2013.  The South Florida market increased 16.0% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was down 0.2% and the US market was flat, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "despite continued price gains, most other housing statistics are weak.  Sales of both new and existing homes are flat to down." He went on to say, "home prices nationally have not made it back to 2005.  Mortgage interest rates, which jumped in May last year and are steady since then, are blamed by some analysts for the weakness."

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 20% off the high level.  The recovery from the March 2012 low is about 23%, according to Case Shiller.

Some area of interest:

Feb-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	166.98	-0.50%	8.50%
Chicago	122.61	-0.90%	10.80%
Miami	178.57	-0.20%	16.00%
Minneapolis	135.96	-0.90%	9.20%
New York	171.29	-0.40%	6.10%
Tampa	154.63	-0.70%	13.40%
Composite 10	179.96	0.00%	13.10%
Composite 20	165.35	0.00%	12.90%
Source:
S&P Indices
Firserv

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