Home prices continued to jump in value in May, according to the latest numbers from the Standard & Poor’s/Case-Shiller Home Price Indices.
The stock market rocketed higher Tuesday after strong economic indicators showed the American economy continues to move ahead. The economic outlook has sent consumer confidence up nationwide, including in the Sunshine State.
South Florida homeowners have something to rejoice about: higher property values.
The SEC has launched an investigation into whether the City of Miami misled bond investors. This puts the city inches from financial disaster, a downgraded credit rating for the second year in a row.
Cost cutting measures implemented by Miami-Dade Mayor Carlos Gimenez’s administration have helped lift the county’s credit rating.
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.
Homeowners in South Florida have been hoping for years for a boost in the real estate market, specifically the value of their homes. Unfortunately, new numbers from Standard & Poor’s showed that recovery is still a long way away.
Top officials at Standard & Poor’s are not backing down from their decision to downgrade the U.S government’s credit rating, and that decision has South Floridians, including financial analysts, watching closely.
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.