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 – 2018 | Miami Real Estate Invest LLC is a Licensed Real Estate Broker in the State of Florida and abides by all Equal Housing Opportunity laws.