Case Shiller Housing Index: June 2014: South Florida Housing Market Price Increases Continue

The South Florida real estate market saw prices increase by 11.5% on a year-over-year basis in June 2014, according to the Case Shiller Index.  This compares favorably with the US as a whole, which increased by 8.1% in June 2014 over June 2013, as measured by the Case Shiller Composite-10 and Composite-20, according to the Case Shiller Index.

However, the Case Shiller Index on a sequential basis shows the South Florida market was up only 0.6%, compared with 1.0% for the US in June 2014.  All-in-all, the Index is showing continued price appreciation.

David Blitzer, Chairman of the Index Committee stated, "for the first time since February 2008, all cities showed lower annual rates than the previous month.  Other housing indicators-- starts, existing home sales and builders' sentiment -- are positive.  Taken together, these point to a more normal housing sector."

The average home price across the US in June 2014 is at the level of the spring of 2005, according to Case Shiller Index.

According to Case Shiller, the average national home price is approximately 17% in July 2014 off the peak of June / July 2006.  The Index also shows the national composites are about 27.8% to 28.5% higher in June 2014 when compared with the March 2012 low point.

Areas of interest:

Jun-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	176.28	0.50%	7.00%
Chicago	129.83	1.40%	6.60%
Miami	186.39	0.60%	11.50%
Minneapolis	141.27	0.60%	6.70%
New York	175.26	1.60%	4.30%
Tampa	161.25	1.20%	9.10%
Composite 10	187.19	1.00%	8.10%
Composite 20	172.33	1.00%	8.10%
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 licensed Florida real estate agent and 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, 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 Index: May 2014: South Florida Home Price Appreciation Continues To Be More Robust Than Overall US Market

While the US market as gauged by the Case Shiller Composite-10 and Composite-20 was up 1.1% on a sequential basis in May 2014, the South Florida market showed appreciation of 1.2%.  On an annual basis, South Florida saw home prices appreciate by 13.2% in May 2014, over May 2013, versus only a 9.3% increase for the US (i.e., Composites).

For the US a whole, David Blitzer, Chairman of the Case Shiller Index Committee pointed out, "home prices rose at their slowest pace since February of last year."  He further stated, "housing has been turning in mixed economic numbers in the last few months.  Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag."

Concerning average US home prices, Case Shiller notes they are back to summer of 2004 levels.  Regarding the decline since the peak prices of June/July 2006, the Composites have declined by about 17% to 18%, according to Case Shiller.  The Index also notes, price recovery for the US market from the March 2012 low has been around 26.5% to 27.3%.


Other areas of interest:

May-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	175.3	1.10%	8.20%
Chicago	127.96	1.50%	8.50%
Miami	185.32	1.20%	13.20%
Minneapolis	140.37	1.30%	8.40%
New York	172.53	1.00%	4.80%
Tampa	159.33	1.80%	10.20%
Composite 10	185.33	1.10%	9.40%
Composite 20	170.64	1.10%	9.30%
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, 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 Index: April 2014: South Florida Price Appreciation Continues To Outpace US Overall On Year-Over-Year Basis

Home prices in the South Florida market grew by 14.7% in April 2014 over April 2013, according to the Case Shiller Housing Index; this compares with 10.8% for the US market (i.e., Composite-10 and Composite-20).  On a sequential basis, the South Florida market kept pace with the overall market at 1.1%, according to the Case Shiller Index.

According to Case Shiller, home prices in the US are back to the summer of 2004.  Measured off the June/July 2006 peak, the April 2014 Case Shiller report stated the peak-to-current decline for the US is 18% to 19%.  The report went on to say the recovery from March 2012 lows is 25% to 26% for the US composites.

David Blitzer, Chairman of the Index Committee stated, "although the home prices rose in April, the annual gains, weakened... Overall, prices are rising month-to-month, but at a slower rate."

Mr. Blitzer's comments continued: "Near term economic factors favor further gains in housing: mortgage rates are lower than a year ago, the Fed is expected to keep interest rates steady until mid-2015 and the labor market is improving.  However, housing is not back to normal: prices are being supported by cash sales, low inventories and declining foreclosures and REO sales."

Other areas of interest:

Apr-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	173.51	2.90%	9.00%
Chicago	125.98	2.00%	10.70%
Miami	183.19	1.10%	14.70%
Minneapolis	138.67	1.10%	9.40%
New York	170.76	0.10%	5.40%
Tampa	156.56	1.20%	10.20%
Composite 10	183.28	1.00%	10.80%
Composite 20	168.71	1.10%	10.80%
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, 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: March 2014: South Florida Price Recovery Outpacing The US

The Case Shiller Housing Index showed a 12.5% year-over-year increase for March 2014 over March 2013.  The South Florida market increased 16.2% during the same time-frame, according to the Case Shiller Index. On a sequential basis, the South Florida market was up 1.4% and the US market was up by about 0.8%, according to the Case Shiller Index.

David Blitzer, Chairman of the Index Committee stated, "year-over-year changes suggest that prices are rising more slowly."  He also said, "housing indicators remain mixed.  April housing starts recovered the drop in March but virtually all the gain was in apartment construction, not single family homes.  New home sales also rebounded from recent weakness but remain soft.  Mortgage rates are near a seven month low but recent comments from the Fed point to bank lending standards as a problem.  Other comments include arguments that student loan debt is preventing many potential first time buyers from entering the housing market."

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 19%-20% off the high level.  The recovery from the March 2012 low is about 24%, according to Case Shiller.

Some area of interest:

Mar-14	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	168.54	0.90%	8.20%
Chicago	123.42	0.70%	11.50%
Miami	181.11	1.40%	16.20%
Minneapolis	137.33	1.00%	11.50%
New York	170.75	-0.30%	6.60%
Tampa	154.79	0.10%	10.70%
Composite 10	181.43	0.80%	12.60%
Composite 20	166.8	0.90%	12.40%
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 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

Zillow Reports "Underwater" Households Is Down, But Remains "Elevated"

Zillow reported that there are nearly 10 million US households that have homes that are worth less than their mortgage (i.e., underwater).  Zillow reports about 18.8% of US homeowners with a mortgage is "underwater" in 1Q:14; this compares with 19.4% at the end of 1Q:13.

Another issue for the market is about another 10 million US households have 20% or less equity in their homes, according to Zillow.  A report in the Wall Street Journal (WSJ) explains with about 40% of US homeowners with a mortgage "underwater" or lacking enough equity to sell their home, it might put a damper on the US housing market.

The WSJ article goes on to report that many of the less expensive homes in the US, the lower third of the spectrum, is more likely to be "underwater."  The theory is that this is inhibiting those who use the equity in the home for expenses to "trade up" (i.e., get a larger home).  This is causing the first time homebuyer to be shut out as they tend to buy lower priced homes as a starter home and then move up. 

There still seems to be more demand than current inventory levels can supply in the South Florida market.  As such, prices continue to climb in the area with much of the sales being cash deals.  However, I am working with buyers now who are getting mortgages and buying homes.  I also work with first time homebuyers and help them through the purchase process.

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

New Construction in Boca Raton: Townhomes With Non-Mandatory Golf and Clubhouse

A new project is being put forth in Boca Raton located north of SW18th Street and west of Powerline Road.  There are only 100 townhomes being built and are expect to be completed by March 2015. 

The community will have its own, private recreation area with a pool overlooking the lake.  The community will be pet friendly (with restrictions) and each homebuyer will be granted one-year social membership to the club.  The community will also have a 24-hour manned gatehouse. 

The townhomes will be 3 to 4 bedrooms with 2,100 to 2,490 living square feet, a garage (1 and 2 car) with lake, canal and garden view lots. 



I have reviewed the layouts and reviewed the plans.  I can help you navigate the buying process on this new project, from viewing the home, to negotiating the extras, to taking pictures throughout the build-out, keep up on delivery dates, up to the final move-in.

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