South Florida Again Near Top In Home Price Increases

Dated: February 25 2015

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South Florida home price increases remain among the best in the nation, according to a report Tuesday.

This is the second consecutive month that South Florida ranked second in the report. From August through October, the tri-county region led all areas in price gains.

But the index, released on the last Tuesday of each month, lags Realtor board numbers and does not include condominium prices.

Despite solid gains in South Florida and in western states, the housing rebound nationwide is "faltering" as home starts remain sluggish, David M. Blitzer, chairman of the index committee at Standard & Poor's, said in a statement.

Rising rents in South Florida and across the country are pushing people into homeownership. Still, many renters can't afford to buy, hurting the housing recovery, analysts say.

"Widespread and rapid growth in rents, combined with stagnant wages, are keeping many would-be buyers stuck in rental housing, writing ever-larger checks to their landlords instead of saving for a down payment," Stan Humphries, chief economist for real estate website, said in a statement. "Today's renters are tomorrow's buyers, and the longer these would-be buyers stay on the sidelines, the longer full recovery will take."

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Angelo F. Terrizzi Jr.

I am a New England native, born and raised in the Boston area. Growing up, I was always involved with extra-curricular activities through school and church. I spent 30+ years in Business and later in ....

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