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 |
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