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Miami-area home prices rise in Case-Shiller index

By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com
Standard & Poor's Case-Shiller 20-city housing index released Tuesday showed South Florida home prices increased in July, the third straight month of rising prices after nine previous months of decline.

Home prices in the Miami metropolitan area increased 0.7 percent from June to July. Compared to the same month last year, South Florida home prices were up 0.4 percent in July, following June's year-over-year increase of 1.1 percent.

The index tracks repeat sales of existing homes and does not include condos - which make up the majority of sales in South Florida.

The national index fell by 0.6 percent between June and July, and prices are back at late-2003 levels, according to the index. Month-over-month, 12 of 20 cities surveyed had price increases in July.



Read more: http://www.miamiherald.com/2010/09/28/1846687/miami-area-home-prices-rise-in.html#ixzz112VOnbgH
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