Nearly a third of all homeowners in Florida are seriously underwater. According to a new report released by RealtyTrac 31 percent of homes in Florida were underwater in the first quarter.
Home prices continued to jump in value in May, according to the latest numbers from the Standard & Poor’s/Case-Shiller Home Price Indices.
While nationally the Case-Shiller Home Price Index showed home values hit new index lows to end 2011; the data wasn’t as bad for two of the hardest hit areas in the nation, Phoenix and Miami.
Homeowners across the country hoping home prices may have finally bottomed out are not going to like the latest numbers from the Standard & Poor/Case-Shiller Home Price index.
While most homeowners across South Florida have seen their property values drop by as much as half in the last couple of years, one Broward city has bucked the trend.
For years we have seen real estate prices in South Florida tumble, but for the first time it appears that trend is reversing.
The S&P/Case-Shiller Home Price Index for April showed a slight monthly increase in prices across the board, but that’s not helping home prices in South Florida.
Home values in South Florida fell nearly 13 percent in the first three months of this year, compared to the same period last year, according to real estate tracker Zillow.com.
As much as some economists want you to believe the recession is over, a double-dip in home prices may be arriving sooner rather than later. And that could spell further woe for the depressed home markets in South Florida.
Home prices across the nation continue to bottom out, according to the latest information from the Standard & Poor’s/Case-Shiller Home Price Index.