Case-Shiller Home Price Index Posts Slight Decline for Miami

posted on February 24th, 2010 filed under: Real Estate News

Home prices in Miami fell slightly for the three-month period ending December, compared to the period ending November, according to the Standard and Poor’s Case-Shiller Home Price Index.  The index declined from 149.08 to 148.66, a drop of 0.3%.

This answers the question posed last month whether the Case- Shiller data would confirm the outsized gain in prices observed in the Florida Association of Realtors data, which showed a large gain for Miami median home prices in December.  (Answer: No.)

The Case-Shiller index is not broken down by locality or price range, so specific conclusions about, e.g., Coral Gables or the luxury market cannot be drawn.

Incidentally, the index for the New York metro area declined again, from 173.24 at the end of November to 171.91 at the end of December, a drop of 0.7%.

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posted by // This entry was posted on Wednesday, February 24th, 2010 at 11:57 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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