South Florida - Miami area - home prices make gains per the Case-Shiller index May 2015

Posted on Monday, August 3rd, 2015 at 7:52am.

South Florida home prices are on the rise according to the Dow Jones S&P’s Case-Shiller index for May 2015, indicating the market has continued to strengthen for the last 12 months.

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Released this week, the report shows the Miami area is doing particularly well with 8% growth, just behind Denver, (10%) San Francisco (9.7%) and Dallas (8.4%). The next highest are Portland and Seattle, both coming in at 7.4%. So, what does this all mean? 

“This is great news for South Florida home sellers,” Jean-Luc Andriot of Boca Premier Properties, said. “We are already seeing the best sales volume in Palm Beach and Broward counties in more than two decades and this is yet another great indicator of success.”

The Case-Shiller home price index is a leader in home value  indicators, as the report tracks the price path of the same houses over time in each metropolitan area provided. As of  May 2015, average home prices within the 10-City and 20-City Composites were back to their winter 2005 levels. In addition,  just last week Palm Beach and Broward County realtor boards released their own June figures which illustrated prices are  making average gains and home sales are strong.    

“As home prices continue rising, they are sending more upbeat signals than other housing market indicators,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices said in a statement. “Nationally, single family home price increases have settled into a steady 4%-5% annual pace following the double-digit bubbly pattern of 2013.”

Biltzer said we are hitting a turning point and that over the next two years, “the rate of home price increases is more likely to slow than to accelerate” since prices are increasing about twice the rate of inflation or wages. But that’s still good news for South Floridians, Andriot says. “These figures show us that it is the right time to be a seller and the market is only becoming more stable every month.”

If you’re looking to own or sell your luxury home, rely on the experience of Jean-Luc Andriot and his team of professional realtors at Keller Williams. Call Jean-Luc today at 561-213-9008. He and his staff specialize in luxury properties, including luxury condominiums in Boca RatonHighland BeachDelray BeachGulfstreamOcean Ridge and more. 

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