Case-Shiller index: Home prices up 8.1 percent in South Florida
South Florida’s home prices increased 8.1 percent in November from a year earlier, according to a national report released Tuesday.
The Standard & Poor’s/Case-Shiller index analyzes prices in Palm Beach, Broward and Miami-Dade counties, as well as 19 other metro areas nationwide.
The tri-county region has seen consistent price gains over the past three years and continues to fare better than most of the country. Portland, Ore., led the nation with an 11.1 percent annual increase, followed by San Francisco (11 percent) and Denver (10.9).
“Home prices extended their gains supported by continued low mortgage rates, tight supplies and an improving labor market,” David Blitzer, chairman of the index committee for Standard and Poor’s, said in a statement.
Last month, Blitzer said the nation’s housing market has returned to normal, shedding the “boom and bust cycle” that defined the past decade.