Case Shiller Index: February 2014: South Florida Year-Over-Year Price Increase Still Outpacing US

The Case Shiller Housing Index showed a 13.0% year-over-year increase for February 2014 over February 2013.  The South Florida market increased 16.0% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was down 0.2% and the US market was flat, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "despite continued price gains, most other housing statistics are weak.  Sales of both new and existing homes are flat to down." He went on to say, "home prices nationally have not made it back to 2005.  Mortgage interest rates, which jumped in May last year and are steady since then, are blamed by some analysts for the weakness."

Home prices for the US were back to mid-2004 levels in February 2014, according to Case Shiller.  Measured from the June/July 2006 peak, the US Composite is about 20% off the high level.  The recovery from the March 2012 low is about 23%, according to Case Shiller.

Some area of interest:

Feb-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	166.98	-0.50%	8.50%
Chicago	122.61	-0.90%	10.80%
Miami	178.57	-0.20%	16.00%
Minneapolis	135.96	-0.90%	9.20%
New York	171.29	-0.40%	6.10%
Tampa	154.63	-0.70%	13.40%
Composite 10	179.96	0.00%	13.10%
Composite 20	165.35	0.00%	12.90%
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

US Home Prices Continue to Climb, According to the Case Shiller Index

The US housing market continues to show solid growth, according to the Case Shiller Home Price Index.  Home prices increased by about 9.0% in February 2013 over February 2012; home prices were up about 0.4% on a sequential basis during February 2013, according to the Case Shiller Home Price Index.

The South Florida market had an annual increase of 10.4% on a year-over-year basis in February 2013; this is slightly above the national average.  The sequential uptick was about 0.3% in February 2013; this is relatively inline with the national average.

I found the following quote from the Case Shiller report interesting: "Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy.  The 2013 first quarter GDP report shows that residential investment accelerated from the 2012 fourth quarter and made a positive contribution to growth.  One question is the mix of single family and apartments; housing starts data show a larger than usual share is apartments."

As I have been stating, there continues to be a shortage of homes on the market in many of the South Florida communities.  The dearth of homes is pushing up prices and making for quick sales turnaround times.

Areas of interest are as follows:

Feb-13	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	153.89	0.10%	5.20%
Chicago	110.72	-0.80%	5.10%
Miami	153.97	0.30%	10.40%
Minneapolis	123.81	-0.90%	12.00%
New York	162	0.40%	1.90%
Tampa	136.33	0.60%	10.00%
Composite 10	159.24	0.40%	8.60%
Composite 20	146.57	0.30%	9.30%
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 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: February 2012: Prices Still In Decline: Homes For Sale: Homes For Rent

The Case-Shiller Index is now at levels last seen in late-2002. Although prices fell in 15 of the 20 cities tracked by Case-Shiller Index, on a sequential basis, prices actually rose in Miami. The price decline is largely blamed on foreclosed properties being a heavy representation of sales. We had predicted this would occur. Generally, foreclosed properties sell at a discount to non-distressed homes (please see previous articles).

The US housing market should begin to stabilize, in my view. Builders are planning to construct more homes in 2012 than any other year, going back to 2008. I think we are hitting trough point and will begin to see prices stabilize during 2H:12. Much of the potential recovery in US housing will depend on job growth, in my opinion.

The market fell about 3.5% on a year-over-year basis in February 2012, according to Case-Shiller. I think the slight price increase (almost 1.0%) for the South Florida region in February is a positive sign. I expect to see prices at a steady pace with the previous year in 2H:12 for the South Florida market and the US housing market as a whole.


Some areas of note:

February 2012 February/January January '12/December '11
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)

Boston 146.23 -1.1% -0.5% -2.4%

Chicago 105.39 -2.5% -1.9% -6.9%

Miami 139.49 0.6% 0.6% 0.8%

Minneapolis 110.16 -1.0% -0.8% 0.4%

New York 159.58 -0.8% -1.0% -3.0%

Tampa 123.91 -0.2% -0.8% -2.9%

Composite-10 146.90 -0.8% -1.0% -3.6%

Composite-20 134.20 -0.8% -1.0% -3.5%

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. 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

Homes For Sale: Homes For Rent: Case-Shiller Index Update February 2011

United States residential home prices have dropped during the 12 months to February 2011, according to the Case-Shiller Index. The Case-Shiller Index of property values in 20 cities fell 3.3% from February 2010.

The continuation of distressed properties (e.g., foreclosures) are weighing on the prices of homes in the US. “There is very little, if any, good news about housing,” David Blitzer, chairman of the Case-Shiller index committee at S&P, said in a statement. “The 20-city composite is within a hair’s breadth of a double-dip.”

The Miami component of the index saw prices fall 6.2% on a year-over-year basis in February 2011 and Tampa was down 6.0%. On a sequential basis the two segments fell 2.0% and 1.2%, respectively.

Some areas of interest are as follows:

February 2011 February/January January '11/ December '10
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)

Boston 149.86 -1.5% -0.2% -1.0%

Chicago 113.26 -2.2% -1.8% -7.6%

Miami 138.44 -2.0% -1.3% -6.2%

Minneapolis 109.93 -3.1% -3.3% -8.3%

New York 165.19 -0.5% -1.0% -3.1%

Tampa 128.38 -1.2% -0.5% -6.0%

Composite-10 152.70 -1.1% -1.0% -2.6%

Composite-20 139.27 -1.1% -1.1% -3.3%

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.

To receive more information on properties in the area, feel free to text me or call me at the number below.

If you are thinking of selling or buying a home, or require more information, please feel free to contact me.

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