Tampa, Miami tally highest home price hikes

Tampa, Miami tally highest home price hikes

Roger Pettingell Sarasota Real Estate

For the second month in a row, Tampa and Miami topped other metro areas across the country in an analysis of housing price increases.

The Tampa area had a 36.1 percent price increase in May when compared to a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index released Tuesday. Tampa was followed by the Miami area at 34 percent and Dallas at 30.8 percent.

Tampa and Miami also led other metro areas in April. They were the only areas of Florida included in the 20-market analysis. Craig J. Lazzara, managing director at S&P Dow Jones Indices, said in a prepared statement that prices were strongest in the South and Southeast, though he pointed to the possibility that prices will not continue increasing at recent levels.

“We’ve noted previously that mortgage financing has become more expensive as the Federal Reserve ratchets up interest rates, a process that was ongoing as our May data were gathered,” Lazzara said. “Accordingly, a more-challenging macroeconomic environment may not support extraordinary home price growth for much longer.”

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