South Florida’s June home prices inched upward on the Standard & Poor’s/Case-Shiller price index from the previous month. That bit of good news was tempered, however, by the fact that it was a small recovery from April’s record low.
According to the June index, which was released Tuesday, home prices in Palm Beach, Broward and Miami-Dade counties increased less than a percentage point from May and were down 5.1 percent from the same time in 2010. That puts home prices in the tri-county area back to 2002 levels.
“The Sun Belt, including Florida, is still trying to get to a stable point,” said David Blitzer, chairman of Standard & Poor’s index committee. “The Miami area is up the last couple of months and that’s nice, but if someone asked me to assure them they are past the bottom, I can’t say that.”
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