Home values still aren’t at pre-bubble levels in South Florida.
While some markets have recovered from the housing crash, Miami still has a ways to go. Dallas and Denver are both up by 1 percent above previous peaks, while most of the 20 markets tracked by the Case-Shiller real estate index have fallen on average by 24 percent, with Miami fallen by 41 percent, according to a recent article in the Miami Herald.
However, South Florida’s recovery is accelerating. Property values have risen 14 percent, which is the best increase since may of 2006. Compared to April of 2013, values are up by just below 1 percent in May. This is the 17th straight month of increases, and the best streak for South Florida since the 82 months of gains reported in June 2006 as the real estate bubble was about to burst.The worst came in November of 2011, when South Florida real estate was down 51 percent on the Case-Shiller index.