Home values and construction activity increased in the third quarter, according to two reports that offer more evidence of South Florida’s housing recovery.
Zillow.com’s Home Value Index for Palm Beach, Broward and Miami-Dade counties hit $149,700, an 8 percent increase from the same period a year ago. Values are projected to rise by 4 percent into next year, outpacing the 2 percent gain forecast nationally.
Meanwhile, housing starts rose sharply as builders respond to increasing demand, the Metrostudy research firm said Monday.
Palm Beach County had 505 single-family starts, a 61 percent jump from a year ago and the most since 2007. Broward, with much less available land, had 244 starts, a 5 percent increase from a year earlier.
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