Miami-Dade home prices rise again in August

Posted on 06 Oct 2015 in Miami What's New | 0 comments

Aerial View of MiamiHome prices in Miami-Dade County continued to rise during August, but at a reduced pace.

A new report from CoreLogic showed that home prices in the county — including distressed properties — grew by 7.4 percent during August compared to the same month last year.

However, that’s a slight drop in appreciation compared to July, which saw home prices increase by 7.9 percent year-over-year.

The report predicts this leveling off will continue next year, with factors like higher mortgage rates and more inventory of single-family homes putting the brakes on demand.

But that’s not necessarily a bad thing, experts say. The real estate boom during 2013 and 2014 saw double-digit increase in home prices, a pace that some would say is unsustainable in the long-term.

Statewide, home prices grew 8.1 percent year-over-year during August. Nationally, the growth was by 6.9 percent, according to the report.

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