HOUSING

Miami area home prices rose 15.3 percent in January

 
 
Miami area home prices rose 15.3 percent in January from a year earlier, CoreLogic said.
Miami area home prices rose 15.3 percent in January from a year earlier, CoreLogic said.
Joe Raedle / Getty Images

mbrannigan@MiamiHerald.com

Miami area home prises rose 15.3 percent in January from a year earlier, according to CoreLogic.

Excluding distressed homes sales in the area, which includes Miami, Miami Beach and Kendall, prices were up 13 percent year over year, the Irvine, Calif.-based data firm said.

January home prices were up 3.4 percent from December 2013 in the Miami area, and excluding distressed sale, they rose one percent, CoreLogic said.

The latest data show home prices in the Miami area outpaced the nationwide annual price increases of 12 percent for total home sales and 9.8 percent excluding distressed sales.

“The last time January month-over-month and year-over-year price appreciation was this strong was at the height of the housing bubble in 2006,’’ Dr. Mark Fleming, CoreLogic’s chief economist said of the nationwide data.

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