Home prices in the Miami area posted some of the best growth in the nation, according to the latest Case-Shiller Home Price Indices from Standard & Poor’s.

In March, Miami home prices rose 6.2 percent year-over-year, which was more than the national average of 5.2 percent; similarly, the Magic City’s monthly growth from February to March was 1.1 percent, also higher than the national average of 0.7 percent.

Economic Trends Drive Housing Growth

In comments accompanying the Case-Shiller report, David M. Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices, said that wider economic trends are positively affecting housing in 2016.

“The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates,” Blitzer said. “Another factor behind rising home prices is the limited supply of homes on the market. The number of homes currently on the market is less than 2 percent of the number of households in the U.S., the lowest percentage seen since the mid- 1980s. “