Thought you might find
this article of interest:
Courtesy of the Miami Herald
> Business
Posted on Tuesday,
07.30.13
Home values soar in Miami, but still off 41% from
peaks
By
Douglas Hanks The Miami Herald
By
Douglas Hanks
As South Florida accelerates its recovery from a real estate
crash, some markets have officially left their housing wreckage behind.
Dallas and Denver both posted their highest-ever readings in the
monthly S&P/Case-Shiller real estate index released Tuesday. The May index
has both markets up about 1 percent from past peaks. Compare that to an average
24 percent drop for the 20 metropolitan areas tracked by Case-Shiller, and a 41
percent decline for South Florida.
Metro
|
Monthly
change
|
Change
from pre-13 peak
|
Index
reading
|
Denver
|
10%
|
1%
|
139.36
|
Dallas
|
8%
|
1%
|
125.66
|
Charlotte
|
7%
|
-10%
|
133.85
|
Boston
|
8%
|
-10%
|
180.81
|
Cleveland
|
3%
|
-17%
|
123.4
|
Portland
|
12%
|
-18%
|
185.44
|
Seattle
|
12%
|
-20%
|
190.55
|
Washington, DC
|
7%
|
-21%
|
252.91
|
Atlanta
|
20%
|
-23%
|
136.11
|
New York
|
3%
|
-23%
|
216.6
|
Minneapolis
|
14%
|
-23%
|
173.89
|
San Francisco
|
24%
|
-24%
|
219.3
|
Composite-20
|
12%
|
-24%
|
206.65
|
Composite-10
|
12%
|
-25%
|
226.89
|
Los Angeles
|
19%
|
-28%
|
273.09
|
San Diego
|
17%
|
-29%
|
251.71
|
Chicago
|
9%
|
-30%
|
171.32
|
Detroit
|
19%
|
-31%
|
127.91
|
Tampa
|
11%
|
-39%
|
239.04
|
Phoenix
|
21%
|
-41%
|
228.06
|
Miami
|
14%
|
-41%
|
279.98
|
Las Vegas
|
23%
|
-51%
|
235.75
|
Metro
|
Monthly
change
|
Change
from pre-13 peak
|
Index
reading
|
Despite the ongoing damage, South Florida accelerated its
recovery in May. Case-Shiller showed property values up 14 percent for the last
12 months, its best yearly increase since May 2006. Compared to April 2013,
values are up just under 1 percent in May. A tiny gain, for sure, but also the
17th straight month of increases. That’s the best streak for South Florida in
the Case-Shiller report since 82 months of straight gains ended in June 2006 as
the pricing bubble in real estate was about to burst.
At its worst, South Florida real estate was down 51 percent on
the Case-Shiller index. The trough came in November 2011.
Read more here: http://www.miamiherald.com/2013/07/30/3531251/home-values-soar-in-miami-but.html#storylink=cpy
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