Miami Home Prices Are Up 11.3% in 2012

Home prices in the Miami area rose 11.3 percent in August from a year earlier; beating a national average gain of 4.6 percent. Excluding distressed sales, home prices in the Greater Miami area, including Miami, Miami Beach, and Kendall, rose 9.9 percent in August from a year earlier. Miami area prices went up 0.1 percent in August from July.

Florida prices rose 6.9 percent statewide in August from a year earlier, or 6.3 percent excluding distressed deals. The national price gain year over year was the largest in more than six years. Nationwide home prices, excluding distressed transactions, rose 4.9 percent year over year in August.

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