Case Shiller Home Price Index: August 2014: South Florida Has Strongest Year-Over-Year Growth in US During August 2014

The Case Shiller Home Price Index showed South Florida with the highest year-over-year increase in prices during August 2014.  The South Florida market increased by 10.5% in August 2014 over August 2013, according to Case Shiller; this compares with a 5.6% increase for the Composite 20 and 5.5% increase for Composite 10.  On a sequential basis, the South Florida market was up 0.3% versus 0.2% for the Composites.

David Blitzer, the Chairman of the Index Committee stated, "despite the weaker year-over-year numbers, home prices are still showing an overall increase, as the National Index increased for its eighth consecutive month." He went on to say, "Miami is now leading the cities with a 10.5% year-over-year return."

The average home price in the US was back to its level in the spring of 2005 in August 2014, according to Case Shiller.

Case Shiller also shows an approximate 16% to 17% decline from the peak level in June/July 2006. The increase off of the March 2012 lows is 28.8% for the Composite 10 and 29.5% for Composite 20.

Other areas of interest:

Aug-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	176.73	0.10%	5.00%
Chicago	131.46	0.40%	2.90%
Miami	188.24	0.30%	10.50%
Minneapolis	142.47	0.30%	3.90%
New York	177.55	0.40%	3.10%
Tampa	162.4	0.20%	5.50%
Composite 10	188.58	0.20%	5.50%
Composite 20	173.66	0.20%	5.60%
Source:
S&P Indices
Firserv

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