In South Florida real estate circles, 2014 was supposed to be the year of the listing.A shortage of homes for sale dogged the market in 2012 and 2013, but more owners — encouraged by the steady increase in prices — were expected to test the waters this year and give formerly frustrated buyers new hope.It didn’t really happen. Although more properties are hitting the market in …
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An index measuring house prices in South Florida increased 16.2 percent in March from a year ago.The Standard & Poor’s/Case-Shiller home price index tracks prices of the same house over time in Palm Beach, Broward and Miami-Dade counties and 19 other metro areas nationwide.Las Vegas led the nation with a 21.2 percent increase in March from a year earlier, according to the index. San Francisco was second with a 20.9 percent jump.While South Florida saw a larger annual gain in March than February, analysts and Realtor board data suggest prices here generally aren’t rising as quickly as they did last year. Price gains in other cities across the country appear to be slowing down as well, David M. Blitzer, chairman of the index committee at Standard & Poor’s, said in a statement.Blitzer cited recent comments from the Federal Reserve about restrictive lending standards hurting the housing market. Blitzer also pointed to Fed comments about student-loan debt keeping first-time homebuyers from jumping into the market.
Original article : http://touch.sun-sentinel.com/#story/sfl-house-price-index-20140527/