Home prices in the Boca Raton area continue to rise. If you are looking for homes to purchase in the area, this might be a good time as per the information below. The data also supports a continued solid home market for those who are selling homes in the Boca Raton area. I find there is still a lot of interest in single family homes, townhouses as well as condos in the area.
David Blitzer, Managing Director of the Index Committee at S&P Dow Jones Indices is quoted in the February Case Shiller Home Price Index report as saying, "home prices continue to rise and outpace both inflation and wage gains."
Another interesting tid-bit from the February Case Shiller Home Price Index report was a comment about current pricing by comparing the current market with the pre-boom period of January 2000. The report stated, "a better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated and looking at real or inflation adjusted numbers. Based on the S&P/Case-Shiller National Home Price Index, prices rose 66.8% before adjusting for inflation from January 2000 to February 2015; adjusted for inflation, this is 27.9% or a 1.7% annual rate." I take the comments that current home prices in the US do not seem to be overpriced. Since the June/July 2006 peak, the US market decline has been about 15% to 17%, according to Case Shiller. Also, Case Shiller reports the US market has recovered by about 28.8% to 29.5% since the March 2012 lows.
The South Florida market has seen home prices increase by 0.6% on a sequential basis in February 2015 and rose by 9.2% on a year-over-year basis in February 2015, according to Case Shiller; this is among the strongest price appreciation levels in the country.
Other areas of interest:
| Feb-15 | Monthly | Sequential | Annual |
| Metropolitan Area | Level | Change | Change |
| Boston | 175.3 | -0.20% | 5.00% |
| Chicago | 126.72 | 0.00% | 3.40% |
| Miami | 194.93 | 0.60% | 9.20% |
| Minneapolis | 140.15 | 0.10% | 3.10% |
| New York | 175.6 | 0.20% | 2.50% |
| Tampa | 165.23 | 0.40% | 6.90% |
| Composite 10 | 188.62 | 0.50% | 4.80% |
| Composite 20 | 173.67 | 0.50% | 5.00% |
| Source: | |||
| S&P Indices | |||
| Firserv |
I take an analytical approach to buying, selling and leasing real estate. 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
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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