South Florida home prices ended the first quarter on an upswing, according to a national report released Tuesday.
Prices in Palm Beach, Broward and Miami-Dade counties rose 0.9 percent from February and 2.5 percent from a year ago, figures from the Standard & Poor's/Case-Shiller home price index show.
The Case-Shiller report, which analyzes 20 major metro areas nationwide, also revealed annual price increases for Charlotte, Dallas, Denver, Detroit, Minneapolis and Phoenix. But prices hit new index lows in Atlanta, Chicago, Las Vegas, New York and Portland.
Only Phoenix and South Florida had monthly price increases.
"While there has been improvement in some regions, housing prices have not turned,” David M. Blitzer, chairman of the index committee at Standard & Poor's, said in a statement.
A sustained national recovery won't happen until more parts of the country show monthly price increases and improving rates of changes on an annual basis, Blitzer said.
Case-Shiller records prices of the same house over time, and many analysts believe that's a more accurate measure of values than releasing a median price for homes sold in a month, as Realtor trade groups do.
But the index lags local Realtor board data by a month and does not include condominiums.
Realtor boards measure prices in Palm Beach, Broward and Miami-Dade counties separately while Case-Shiller includes data for all three counties collectively.
Last week, the Greater Fort Lauderdale Realtors and the Realtors Association of the Palm Beaches said median home prices increased in April across Broward and Palm Beach counties