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

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, 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: August 2013: US Home Prices Continue To Rise, But At Slower Pace

The US housing market showed a price increase of 1.3% on a sequential basis and 12.8% on a year-over-year basis in August 2013, according to Case Shiller Housing Index.

The Sequential increase for the US housing market hit a zenith of 2.6% in April 2013 and has been increasing at a declining rate since. 

The South Florida market has had a similar trend with the peak of sequential increases being 2.6% in May 2013.  We also see sequential price increases for home sales at a declerating rate since May in the South Florida housing market. 

The South Florida market continues to show robust price increases from a year ago, with a 13.5% year-over-year increase in August 2013.  South Florida continues to outpace the US housing market for price increases as a whole on a year-over-year basis.

With the Federal Reserve situation relatively settled with Janet Yellen set to be confirmed, I foresee confidence in the market for continued low mortgage rates.  This should be a positive for the housing market for 1H:14.

If you are looking to buy a home, this could be a good time as prices continue to show an inclination to increase.  Sellers should be in a good position in the near-term.  I work with both buyers and sellers, so please contact me if you are making a move in the South Florida market.

Other areas of interest:

Aug-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	168.27	0.70%	6.30%
Chicago	127.68	1.60%	8.70%
Miami	170.41	0.80%	13.50%
Minneapolis	137.34	1.80%	10.20%
New York	172.46	1.10%	3.60%
Tampa	153.93	1.80%	14.10%
Composite 10	178.75	1.30%	12.80%
Composite 20	164.53	1.30%	12.80%
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

US Foreclosure Inventory Was Down As Of August 2013

Corelogic, a real estate consulting firm, reported 48,000 completed foreclosures in August 2013, down from 72,000 a year ago. 

The company reported 939,000 of US homes were in some stage of foreclosure as of August 2013.  The year-ago number was around 1.4 million homes, according to Corelogic.  An economist for Corelogic stated, "A surge in completed foreclosures and a rise in the foreclosure inventory is unlikely."

Corelogic reported Florida lead the country with 111,000 foreclosures during the 12-months ended August 2013.  For the country, the company reports fewer than 2 million homes in the "shadow inventory" of foreclosures, which it estimates constitutes about 3.7 months worth of supply.

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

Almost Half of US Home Sales Were Cash Purchases In August 2013

According to RealtyTrac, about 45% of US home purchases were cash deals in August 2013.  Miami , FL was the leading area with about 69% of sales being for cash, followed by Detroit (68%), Las Vegas (66%), Jacksonville, FL (65%) and Tampa, FL (64%).

RealtyTrac reported 15% of US home sales were short sales in August 2013 and foreclosures made up about 10% of the US home sales.

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: 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

More Foreclosures In August 2011: Homes For Sale: Homes For Rent

The trend continues as more homeowners fell behind on their mortgages, according to Realty Trac, an online marketer of foreclosed properties. Foreclosure filings were up 7.0% in August 2011 over July 2011. However, this is 33.0% below August 2010.

A bellwether for the future is the 33.0% rise in default notices on a sequential basis in August 2011. This is the beginning of the foreclosure process.

Some experts believe lenders are beginning a new push after being slowed down by the "robo-signing" issue last fall.

I find buyers are still focused on the distressed market with foreclosures being the choice over short-sales. I think the reason is primarily two-fold: lower price and less time to get approval.

Surprisingly, Florida was not in the top-three of states hardest hit by foreclosures. Nevada was number one in August, followed by California and then Arizona.

If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550

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

Florida's Palm Beach County's Home Prices Continue To Fall In August 2010

Florida's Palm Beach County has seen median prices fall in August 2010 and some analysts think the trend could continue through the end of 2010.

Florida's Palm Beach County posted 793 sales of existing homes in August 2010, down slightly on a sequential basis and up 5% from August 2009.

The median single-family home price was $227,800 or 7% below August 2009.

The median price of a single-family home dropped 46% since the peak of $421,500 in November 2005.

What has been the main causes?

The high unemployment rate in Florida at double-digit rates, and an excess supply of homes with many foreclosures in the market.

Where do we go from here?

Zillow.com's chief economist said he'd be surprised if the South Florida region's home prices did not hit "bottom" in 2011.

I think it is important to watch the factors we have previously discussed in an article to get a sense of any particular real estate market (i.e., South Florida or Broward County).

Individual markets and submarkets are important to follow when you are looking to buy or sell a home. A person who understands these markets is very important when taking on a big decision, such as buying or selling a home.

If you are looking to buy, sell, rent or invest in the South Florida real estate market, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

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

Florida's Broward County Median Home Prices Fall in August 2010

Florida's Broward County has seen median prices fall in August 2010 and some analysts think the trend could continue through the end of 2010.

Florida's Broward County posted 683 sales of existing homes in August 2010, down 5% on a sequential basis and 16% from August 2009.

The median single-family home price was $206,000 or 5% below August 2009.

The median price of a single-family home dropped 47% since the peak of $391,100 in November 2005.

What has been the main causes?

The high unemployment rate in Florida at double-digit rates, and an excess supply of homes with many foreclosures in the market.

Where do we go from here?

Zillow.com's chief economist said he'd be surprised if the South Florida region's home prices did not hit "bottom" in 2011.

I think it is important to watch the factors we have previously discussed in an article to get a sense of any particular real estate market (i.e., South Florida or Broward County).

Individual markets and submarkets are important to follow when you are looking to buy or sell a home. A person who understands these markets is very important when taking on a big decision, such as buying or selling a home.

If you are looking to buy, sell, rent or invest in the South Florida real estate market, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

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

August New Homes Sales Still Slow In US

Annual sales of new homes in the United States were only 288,000 in August 2010. Sales were down 29% from a year earlier and were relatively unchanged on a sequential basis. This was the second lowest sales amount for the month of August on record. The median sales price of $204,700 was down 1.2% from August 2009 and the lowest amount since December 2003.

Sales of new homes increased by 54% in the Western portion of the US and they were up 15% in the Northeastern US during August 2010. However, this was offset by a 26% drop in the Midwest and an 11% decline in the South.

Foreclosures and other distressed properties (i.e., short sales), have been putting a damper on pricing and unit sales of new homes. As a result, builders are cutting back on adding new inventory to the market. Although home construction is up 25% from the bottom in April 2009, it is 75% below the peak new construction that took place in January 2006.

The number of unsold new homes in the US was 206,000 in the US as of August 2010. Experts believe this is about 8.6 months worth of supply. Therefore, it seems unlikely that construction will ramp up during the next six to nine months.

What does this mean to those looking to buy a home now?

It is still a buyer's market. Those looking for a new home have many options and can be choosy. However, for the best deals, home buyers should be focused on distressed properties.

If you are looking to buy, sell, rent or invest in the South Florida real estate market, please feel free to contact me.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100

http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser

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