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August 26, 2014

Case-Shiller: Miami area home prices rose 11.5 percent in June

South Florida home prices rose 11.5 percent in June from a year earlier, according to S&P/Case Shiller data.

South Florida home prices rose 11.5 percent in June from a year earlier, as the pace of gains continued to slow, according to S&P/Case-Shiller data.

Home prices inched up 0.6 percent from May to June in Miami-Dade, Broward and Palm Beach counties, not seasonally adjusted. That compared with a 1.2 percent increase between April and May.

The slower pace of price increases in Florida came amid a “widespread slowdown” in home price gains, the report said.

The Case-Shiller 10-City and 20-City Composite indices gained 8.1 percent for the year ended in June. South Florida still outpaced most cities, ranking third in gains among 20 cities, behind Las Vegas (up 15.2 percent) and San Francisco (up 12.9 percent.)

The S&P/Case-Shiller index reports lags the market by two months. The indices reflect resales of single-family homes that have sold at least twice.

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