Miami area home prices keep rising

CoreLogic report shows year-over-year gain of 15.3 percent in January

Home prices in Miami, Miami Beach and Kendall jumped 15.3 percent from January 2013 to January 2014. The latest report from Irvine, Calif.-based CoreLogic shows area prices rose 3.4 percent from December 2013, the Miami Herald reported. Removing distressed residential sales, the year-over-year increase in home prices was 13 percent, while the monthly gain was 1 percent.

Miami, Miami Beach and Kendall outperformed the national housing market, which had a year-over-year price increase of 12 percent, or 9.3 percent without distressed transactions.

By Eric Kalis Source: Miami Herald