South Florida’s housing outlook continues to improve as home prices inch upward amid historically low mortgage rates and a diminishing supply of properties for sale.
April prices in Palm Beach, Broward and Miami-Dade counties rose 0.4 percent from March and 3.2 percent from a year ago, according to the Standard & Poor’s/Case-Shiller home price index released Tuesday.
It’s the fourth month in a row that prices have increased annually in the three counties. Prices have risen on a monthly basis here since December, the Case-Shiller data show. Besides South Florida, nine other metro areas had year-over-year increases in the index that covers 20 major markets nationwide.
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Read: “Case-Shiller index: S. Fla. home prices rise in April“, an article by Sun Sentinel.