Case Shiller Housing Index: December 2012: US Home Prices Continue To Rise

US Housing prices continued to rise at a pace of about 6% to 7% on a year-over-year basis in December 2012.  The Case Shiller Composite 10 and Composite 20 rose 5.9% and 6.8%, respectively, during 2012 over 2011.

The South Florida housing market continued to show better than average price increases during December 2012.  Home prices increased 10.6% in December 2012 over December 2011.  Sequentially, the market was up 80 basis points, almost a full percentage point.

To quote from the Case Shiller report, "Home prices ended 2012 with solid gains," says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "Housing and residential construction led the economy in the 2012 fourth quarter."

With a shortage of inventory in the local South Florida market, I foresee a continuation of the sequential uptick until we start to see more inventory reach the market place.

Other areas of interest:

December	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.81	0.10%	3.60%
Chicago	112.61	-1.30%	2.20%
Miami	152.36	0.80%	10.60%
Minneapolis	126.09	-0.10%	12.20%
New York	161.58	-0.40%	-0.50%
Tampa	134.04	0.20%	7.20%
Composite 10	158.49	0.20%	5.90%
Composite 20	145.95	0.20%	6.80%
Source:
S&P Indices
Firserv

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, Certified Distressed Property Expert (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

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Palm Beach County Florida Home Prices Up Double Digits in 2012: Homes For Sale: Homes For Rent

The Realtors Association of the Palm Beaches (RAPB) reported some encouraging news for the housing market in Florida's Palm Beach County.

The median single family home price increased by 10% in 2012, according the Realtors Association.  The median price was $212,000 in 2012, which compares with $193,000 from the previous year, according to the Realtors Association of the Palm Beaches.

Investors seemed to be very active as all-cash sales rose 10% in 2012 over 2011 (source: RAPB).  I think the investment activity was a factor in the 40% decline in homes on the market in Palm Beach County in 2012 (source: RAPB).

The RAPB reported a 10% increase in the number of homes sold in the County during 2012 versus 2011.  The number of home sales was 13,668 in Palm Beach County during 2012, according to the RAPB, which they reported was reminiscent of sales in 2005 (a sales boom period).

The typical home sold in 90 days according to the RAPB in 2012, which was down from 103 days a year earlier. 

All of this is proof that the housing market has recently changed in South Florida.  If the trend continues, it may in fact be a "seller's market" once again.

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, Certified Distressed Property Expert (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

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: November 2012: US Housing Prices Rise About 5% YOY: Homes For Sale: Homes For Rent

As we have discussed, the US housing market continues to show positive momentum.  The Case Shiller Housing index showed a year-over-year increase of 4.5% for the Composite 10 and 5.5% for the Composite 20 during November 2012.

Large institutional investors seems to be reducing supply by taking out large chunks of homes in the distressed market.  All the while, banks seem to be trickling out its in-house foreclosures.  Traditional buyers continue to be out there in the market as low rates help to make buying a home affordable for many.  I believe these are some of the main reasons for the reduction in inventory levels and rise in prices. 

The South Florida market remains strong.  Sequentially home prices rose 0.8% and increased year-over-year by 9.9% during November 2012. 

To quote the Case Shiller report: "The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast -- Miami and Tampa close behind."  The report went on to say, "housing is clearly recovering. Prices are rising as are both new and existing home sales. Existing home sales in November were 5.0 million, highest since November 2009. New Home sales at 398,000 were the highest since June 2010."

Some areas of interest:

November	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.74	-0.90%	2.30%
Chicago	113.35	-1.30%	0.80%
Miami	151.13	0.80%	9.90%
Minneapolis	126.41	1.00%	11.10%
New York	162.86	-1.10%	-1.20%
Tampa	133.77	-0.20%	-0.50%
Composite 10	158.28	-0.20%	4.50%
Composite 20	145.82	-0.10%	5.50%
Source:
S&P Indices
Firserv

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, Certified Distressed Property Expert (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

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: October 2012: "Sustained Recovery In Home Prices" : Homes For Sale : Homes For Rent

Quoting from the Case-Shiller report, “Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength."  The indication is the US housing market is continuing on its path to recovery.

The Index's 10-City and 20-City Composites in October 2012 are back to levels seen in autumn of 2003; still way off the peak levels in June/July 2006.  Both Composites are still 30% and 35% off their peak levels, respectively. 

The South Florida market saw relatively flat sequential growth in October 2012.  However, the year-over-year comparison was up 8.5% in October 2012. 

Quoting from the October Case-Shiller Index report, “Annual rates of change in home prices are a better indicator of the performance of the housing market than the month-over-month changes because home prices tend to be lower in fall and winter than in spring and summer." 

Currently, inventory levels remain tighter than the previous year (please see some earlier posts for more information) in the South Florida housing market.  I remain cautiously optimistic for the market as a whole.  The potential for a new wave of foreclosures is a concern, in my opinion.  However, I do not expect to see a large drop in home prices; a relatively flat market is more likely, in my view. 

Other areas of interest:

Oct-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	155.13	-1.40%	1.60%
Chicago	114.9	-1.50%	-1.30%
Miami	149.97	-0.20%	8.50%
Minneapolis	124.96	-0.70%	9.20%
New York	165.3	-0.40%	-1.20%
Tampa	134.08	-0.50%	5.90%
Composite 10	158.77	-0.10%	3.40%
Composite 20	146.08	-0.10%	4.30%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for 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, Certified Distressed Property Expert (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 The greatest compliment you can give is the referral of your friends and loved ones Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

US Home Sales Increase In November 2012; To Help US Economy Grow In 2013? : Homes For Sale : Homes For Rent

Sales of existing homes rose 5.9% to 5.04 million annual rate in November 2012, according to the National Assocation of Realtors.  The rate is the highest since November 2009.

Some economists believe the housing industry will help grow the US economy in 2013.  Mark Zandi, chief economist at Moody's Analytics stated the following: “Housing is going from being a powerful headwind to the economy to what will be a powerful tailwind.  It turned around in 2012, and I think it’s going to take off in 2013.”

According to Bloomberg Consumer Confidence Index, rising real estate values is helping to lift consumer confidence; the Bloomberg Consumer Confidence Index is at an eight month high. 

For those who were waiting for a "bottom" in the real estate market, now might be the time to start looking for a home to purchase.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for 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, Certified Distressed Property Expert (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

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Have Palm Beach County, South Florida, Home Prices Hit A Bottom In This Cycle? : Homes For Sale: Homes For Rent

According to a recent article in the Sun-Sentinel, we may have reached the point of a "bottom" in the current real estate cycle.  Zillow.com prepared a study for the Sun-Sentinel and the conclusion seems to be that we are at, or near, the price trough for the current housing cycle in Palm Beach County.

The study showed nearly half of the 43 communities in Palm Beach County posted double-digit price gains in October 2012 over the previous low price point in the current South Florida real estate housing market cycle.

Price increases off the "bottom" does not seem to be focused on one segment of the market; it seems to be a more broad "recovery."  The study showed an increase in prices in, "exclusive waterfront enclaves and working class communities alike."

Single family home prices in Palm Beach County peaked at $421,500 in November 2005, according to the study.  The article seems to indicate Zillow.com believes we began to come off the low in Palm Beach County prices during the past 12 - 18 months. 

Although I agree we have seen improvements in the South Florida real estate market during the past year, I am still concerned about the potential for an increase in foreclosures in the coming year (2013).  Lenders were slowed in pursuit of foreclosures from the "robo-signing" situation.  I expect to see more foreclosures in the market during 2013 when compared with 2012; this could have a dampening effect on the market's continued climb in prices.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for 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, Certified Distressed Property Expert (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

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: September 2012: South Florida Sequential Growth Slowing

The September 2012 Case Shiller Housing Index showed the trend of slowing housing price increases.  The National Index was up only 0.3% on a sequential basis in September 2012.  The South Florida real estate market was only up 0.1% in September 2012 over August 2012, according to the Case Shiller Index figures.
 
David M. Blitzer, Cha irman of the Index Committee at S&P Dow Jones Indices commented that "We are entering the seasonally weak part of the year. The headline figures, which are not seasonally adjusted, showed five cities with lower prices in September versus only one in August; in the seasonally adjusted data the pattern was reversed: one city fell in September versus two in August. Despite the seasons, housing continues to improve."
 
The question I have is whether it is infact the slowing growth is a seasonal factor or whether the market is "leveling out." In general I sense there is more activity in the South Florida real estate market now when compared with a few months ago.  So, I tend to think the trend of the Case Shiller Index is indeed a seasonal issue.  We will continue to monitor the trends in the national and South Florida markets.

Other markets of interest:

Sep-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	157.26	-0.60%	1.90%
Chicago	116.69	-0.60%	-1.50%
Miami	150.24	0.10%	7.40%
Minneapolis	126.02	1.10%	8.80%
New York	166.1	-0.10%	-2.30%
Tampa	134.9	0.00%	5.90%
Composite 10	158.93	0.30%	2.10%
Composite 20	146.22	0.30%	3.00%
Source:
S&P Indices
Firserv

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for 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, Certified Distressed Property Expert (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

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Palm Beach County Home Prices Up Sharply In September 2012: Homes For Sale: Homes For Rent

According to the Realtors Association of the Palm Beaches, the median sales price for existing homes in September 2012 was up 25% from a year earlier.  The median price for a condominium was up 10% on a year-over-year basis in September 2012.

Sellers are holding out for their prices as the level of inventory continues to decline.  There were 6,605 single family homes on the market at the end of September 2012, which was nearly half the number as a a year ago.  Condominiums on the market were down about 40% during the same time.

Affordability of homes, low mortgage rates and decreasing options has helped drive home prices upward.  If the lenders are able to properly manage the introduction new distressed property inventory, I suspect home prices will hold steady or could continue to rise.  The presumption is that not much else changes in the current housing market.

I take an analytical approach to buying, selling and leasing real estate.  I work with families, people looking for 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, Certified Distressed Property Expert (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

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: August 2012: US Home Prices Continue To Rise: Homes For Sale: Homes For Rent

The Case Shiller Housing Index indicates housing prices continued to show positive momentum during August 2012.  The market was up about 1.0% on a sequential basis and about 2.0% on a year-over-year basis in August 2012.

Positive consumer confidence trends, consumer default rates are dropping and the inventory levels of homes are in decline.  We have touched on the declining inventory for several months now.  People who have been putting off the purchase of a home are entering the market to buy, just at a time when inventory levels seem to be decreasing.

The South Florida housing market continues to show solid growth.  The Case Shiller Index shows prices in South Florida increased 2.0% on a sequential basis and almost 7% on a year-over-year basis during August 2012. 

From a macro-economic perspective, it seems to me inflationary pressures on commodities, etc. will help to push up the price of homes.  The recent activity for new construction will improve the situation in the labor market for construction, in my view; this could also put upward pressure on future home prices.

Some other markets of interest:

Aug-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	158.27	0.70%	1.70%
Chicago	117.45	0.70%	-1.60%
Miami	150.12	2.10%	6.70%
Minneapolis	124.65	1.20%	7.40%
New York	166.32	0.70%	-2.30%
Tampa	134.91	0.40%	4.20%
Composite 10	158.62	0.90%	1.30%
Composite 20	145.87	0.90%	2.00%
Source:
S&P Indices
Firserv

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, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

I take an analytical approach to buying, selling and leasing real estate.

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Palm Beach and Broward Counties Continue Positive Housing Trends: Homes For Sale: Homes For Rent

According to the Realtors Association of the Palm Beaches, Palm Beach County saw a 12% price increase in August 2012 over the previous year.  The sales of homes (i.e., units) were up 8% during the same timeframe for Palm Beach County.

According to the Greator Fort Lauderdale Realtors, a similar trend happened in Broward County, which saw prices increase 13% on a year-over-year basis in August 2012.  The sales of homes (i.e., units) were up 15% during the same timeframe for Broward County.

Sellers are enjoying the lower levels of inventory through higher prices.  Palm Beach County home inventory was about 44% on a year-over-year basis in August 2012,  according the the Sun-Sentinel.  The newspaper reported Broward County saw less than half of the number of homes for sale in August 2012 versus August 2011.

I have mentioned my recent experiences with clients that are similar to what the numbers that are being reported are telling us about the South Florida housing market. 

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, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.


Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Case Shiller Housing Index: July 2012: Positive Trends Continue

According to the Case Shiller Housing Index, prices increased by about 1.0% in July 2012 on a year-over-year basis and was up about 1.5% on a sequential basis during the same timeframe.

South Florida saw housing prices increase by 5.3% on a year-over-year in July 2012, according to the Case Shiller Index; the sequential movement was positive 2.1%. 

This is what David Blitzer, Chairman of the Index Committee at S & P said: “Home prices increased again in July. All 20 cities and both Composites were up on the month for the third time in a row. Even better, 16 of the 20 cities and both Composites rose over the last year."

He went on to say “The news on home prices in this report confirm recent good news about housing." "All in all, we are more optimistic about housing."

I continue to see shrinking inventory levels and continued interest in the markets that I serve.  When discussing the current market with other real estate professionals, they seem upbeat.  I recently talked with a person heading up a mortgage division.  He seemed encouraged by what he is seeing in the market.

Some areas of interest:

Jul-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	157.22	1.80%	0.90%
Chicago	116.7	2.70%	-0.90%
Miami	148.7	2.10%	5.30%
Minneapolis	123.17	3.70%	6.40%
New York	165.23	1.20%	-2.60%
Tampa	134.12	0.90%	3.60%
Composite 10	157.3	1.50%	0.60%
Composite 20	144.61	1.60%	1.20%
Source:
S&P Indices
Firserv

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, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550


http://MYsouthFLrealestate.com



Referrals are appreciated and welcomed.



Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty