Asked by Meir Aloni, Plantation, FL • Mon Aug 5, 2013
Home prices have appreciated by more than 20 percent in a year
As South Florida home prices near the peak of the last boom, real estate analysts predict the trend to reverse, according to a new CoreLogic Case-Shiller report.
Homes prices in Broward County are expected to decline 2.6 percent from the first quarter of this year to the first quarter of next year, even as prices nationwide gain more than 6 percent.
Prices in Miami-Dade County are expected to drop 2.7 percent, according to the report.
A softening of bullish housing markets throughout South Florida makes sense considering the inordinate contribution of cash deals by investors. South Florida prices have soared more than 20 percent in the past year.
â€œYou and I both know thatâ€™s not sustainable,â€ Sean Snaith, an economics professor at the University of Central Florida, told the Sun-Sentinel. â€” Emily Schmall August 05, 2013 02:00PM
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