Miami-area home prices continue to rise

Prices are up 14.2 percent since May 2012

By Steve Owen - Assistant News Director
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MIAMI - There is more positive news about the nation's real estate market, including the Miami area.

American home prices continued to increase in May, according to the S&P/Case-Shiller Home Price Indices. The composite of 20 American cities found home prices were up 2.5 percent in May compared to April.

"Home prices continue to strengthen," said David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "The Southwest and the West saw the strongest year-over-year gains."

All 20 cities in the study showed positive monthly returns for May.

Miami was up 2.6 percent from April to May. That is Miami's largest monthly gain since August 2005.

The Miami market was up 14.2 percent since May 2012.

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