The S&P Dow Jones Indices brought light to the most recent S&P/Case-Shiller Home Price Indices, the premier measure for U.S. home prices. The Data that was released on December 30, 2014 for October 2014, still shows positive gains year-over-year, but the pace of the rise in home prices across the country continues to decelerate. Miami is one city bucking the trend. Year-over-year Miami home values saw prices rise 9.5% as the booming real estate market doesn’t even pause to take a breath.
Digging a litter deeper into the S&P/Case-Shiller 10-City Composite, Miami real estate values are posting year-to-date gains of 6.65%. Although San Francisco slightly edges out Miami for the top spot in 2014 (so far) posting a 6.75% year-to-date gain, Miami developers see a bright future in store as evidenced by the 200 residential towers proposed and under construction in Miami-Dade alone.
As the Miami real estate market continues to improve based on the latest S&P/Case-Shiller Home Price indices, further price rises should continue but the pace is expected to slow down to a more normalized rate. As Miami’s economy continues to improve, employment growth will continue to post positive gains which should underpin a solid real estate market going into 2015. We, at Miami Real Estate Invest LLC, are expecting that Miami will continue to outperform it’s peer group in the S&P/Case-Shiller 10-City Composite index in 2015.
Miami Real Estate Invest | All Rights Reserved | 2012 – 2017. Miami Real Estate Invest LLC is a licensed real estate broker in the state of Florida, operating as Miami Real Estate Invest, and abides by all Equal Housing Opportunity laws. All material presented in this website is intended for information purposes only. While this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms, etc. in property listings are believed to be reliable, but should be verified by your own attorney, architect or zoning expert.