Standard & Poor’s Case-Shiller 20-city housing index released Tuesday showed South Florida home prices improved in May, the first month-over-month increase since September.
Home prices in Miami-Dade, Broward and Palm Beach counties increased 0.9 percent from April to May. For the year, South Florida home prices were up 1.2 percent in May, after being down 0.5 percent in April.
The index, which tracks repeat sales of existing homes and does not include condos, showed average home prices across the United States are back to the levels they were at in 2003.
The national index rose by 1.3 percent between April and May, with 19 of the 20 cities showing month-over-month price increases. Nationally, prices are up 4.6 percent since May 2009 for the largest 20 cities. Las Vegas was the only city to post a month-to-month decline in May, with prices shedding 0.5 percent.
