Increased in all three South Florida counties in November, with Miami-Dade County being the hottest market, according to CoreLogic. In Miami-Dade, home prices surged 15.5 percent from November 2012 to November 2013. That includes 1.1 percent growth from October to November. Broward County saw home prices grow 15.2 percent year-over-year, although the increase from October to November was just 0.5 percent. In Palm Beach County, home prices were up 14.3 percent year-over-year, including 1 percent in November alone.
While it might sound like South Florida is on fire, consider that other parts of the country are even hotter. Los Angeles and Atlanta had year-over-year home appreciation of 20.7 percent and 15.7 percent, respectively. South Florida homes did see values grow faster than in Houston, Dallas, Washington, D.C. and New York. Nationally, home prices grew 11.8 percent year-over-year but just 0.1 percent from October to November. Irvine, Calif.-based CoreLogic, which tracks consumer, financial and property data, noted a 0.1 percent decline in national home prices from November to December. Still, its chief economist Mark Fleming said 2013 was the best year for home price appreciation since 2005.
By Brian Bandell Source: South Florida Business Journal