The latest South Florida real estate numbers came out today, and the news continues to look relatively good on prices.
June was the seventh straight month of yearly increases in prices for single-family homes in Miami-Dade. That’s the longest streak since September 2006.
Of course, a mere seven months of price gains meant nothing before the housing crash. Between 1999 and 2006, Miami-Dade’s real estate market never saw prices drop from the year before. That’s a remarkable seven-year stretch -- meaning it would take until 2019 to match it again.
The Miami Herald’s Economic Time Machine tracks 60 local indicators in an effort to chart South Florida’s recovery from the Great Recession. By comparing current conditions to where they were before the downturn, the ETM attempts to measure how far back the recession set the economy. The answer so far: June 2003. Visit ETM headquarters at miamiherald.com/economic-time-machine for the latest updates.