S&P/Case-Shiller data show Miami area home prices rose 11 percent in July, far outpacing national gains.
S&P/Case-Shiller data show Miami area home prices rose 11 percent in July, far outpacing national gains. Tony Dejak AP
S&P/Case-Shiller data show Miami area home prices rose 11 percent in July, far outpacing national gains. Tony Dejak AP

Business

Case-Shiller: Miami home prices rose 11 percent in July

By Martha Brannigan

mbrannigan@MiamiHerald.com

September 30, 2014 09:45 AM

South Florida homes prices rose 11 percent in July from a year earlier, continuing to outpace national gains, according data from S&P/Case-Shiller.

Home prices increased 0.8 percent from June to July in the three-county area of Miami-Dade, Broward and Palm Beach, according to data that isn’t seasonally adjusted. That compared with a 0.6 percent increase in prices between May and June.

The Case-Shiller 10-City and 20-City Composite indices each gained 6.7 percent for the year ended in July, marking a continued slow down in the pace of price appreciation. South Florida posted the second biggest price gain among 20 cities; only Las Vegas showed a bigger one-year increase of 12.8 percent.

The S&P/Case-Shiller index reflects resales of single-family homes that have sold at least twice.

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