South Florida home prices fall, hit new bottom - Real Estate News
South Florida home prices fell for the ninth consecutive month in April, falling to a new 5-year low, according to Standard & Poor’s Case-Shiller 20-city housing index released Tuesday.
Home prices in the Miami metropolitan area — which includes Miami-Dade, Broward and Palm Beach counties — fell 0.2 percent between March and April, after shedding 0.8 percent the month before.
From April 2010 to April 2011, home prices fell 5.6 percent, according to the index. The index tracks repeat sales of existing homes and does not include condos — which make up more than half of South Florida home sales. Sales captured in Tuesday’s report reflect contracts signed in February and March.
The national home price index rose 0.7 percent between March and April, the first monthly increase in 8 months. Year-over-year, the index was down 4 percent. Month-over-month, only seven cities had price depreciation in April, while 13 cities saw their prices increase, the best showing so far this year.


















