Wednesday, October 28, 2009

Home Prices, South Beach Real Estate

Home prices rise in most U.S. cities and Miami, South Beach real estate

New data released Tuesday said for the third straight month in August U.S. home prices rose, a key sign for a broad and continuous housing recovery.

The Standard & Poor's/Case-Shiller home price index of 20 major cities climbed 1.2 percent from July to a seasonally adjusted reading of 144.5. While prices are down 11.4 percent from August a year ago, the annual declines have slowed since February.

In Miami, The price index rose 1.1% for South Beach real estate and homes.

We have not seen prices at these levels seen since August 2003 and have fallen almost 30% from the peak in May 2006.

Full Article...Home Prices, South Beach real estate

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