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
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