Miami House Prices On The Rise
April 30, 2012 by James
The price of a house in Miami may not go any lower, experts say. In fact, a key index reports that house prices averaged over a year period increased in Miami and four other American cities.
The Case Shiller report, regarded as an industry barometer, showed higher annualized housing prices in the month of February in Minneapolis, Phoenix, Detroit and Denver along with Miami. Increased real estate activity is the first sign of an improved economy, which is good news for Miami area print companies who will experience the economic benefit of movement in the housing market.
While the Case Shiller report had good news for those areas, other markets are waiting for improved sales, including other Florida cities such as Tampa. Las Vegas is waiting for sunnier days, as is Seattle, New York, Chicago and Atlanta, just to name a few.
In March 2012, new home sales dipped, a sign that there is still a strain in the American housing market amid pockets of improvements. The average price in March was $234,500, a mere one percent lower than the month before. Sales of new homes were estimated at 350,000, which is half of what experts define as evidence of robust market.
Still, Bloomberg news reports that overall, prices are higher than predicted by analysts, creating reason for optimism. Increased sales in February followed by a slower March could have been a reflection than a warmer-than-usually winter period, causing a spike in traditional Spring sales a month earlier.