- Image by planspark via Flickr
According to Standard & Poor’s/Case-Shiller Home Price index released today, Prices in Palm Beach, Broward and Miami-Dade counties rose 0.4 in June from May. On an annual basis, prices increased 1.1%.
Nationally, home prices are 3.6% higher than they were a year ago.
David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement these prices were boosted by the $8,000 and $6,500 homebuyer tax credits, which have since expired. He states: “While the numbers are upbeat, other more recent data on home sales and mortgages point to fewer gains ahead.”
Mortgage Bankers Association said one in 10 mortgages nationwide are either delinquent or in foreclosure.
The S&P index measures prices of the same house over time. Analysts say that’s a more accurate reading of the market than releasing median prices for homes sold in a month, as the Florida Realtors does.
