We all know the economy has experienced some peaks and valleys in recent days/weeks/months. Just ask the folks on Wall Street what the roller coaster ride has been like.
With that said, we duly noted a piece posted on TheRealDeal.com about how South Florida home prices are steadily appreciating. Of course, that’s good news.
According to a new report from S&P/Case-Shiller, South Florida home prices grew by 8.1 percent year-over-year in November – the sixth-highest growth nationally. That means the area saw faster price growth than almost all of the U.S. with the exception of Portland, San Francisco, Denver, Seattle and Dallas.
“The consumer portion of the economy is doing well; like housing, automobile sales were quite strong last year,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.
The national housing market saw similar gains during December as prices grew by 5.3 percent year-over-year. It was slightly up from the 5.1 percent jump in October.
Needless to say, we’re all hopeful this positive trend continues. Consumer confidence will always be the key motivating factor in anything retail related. We’ll all have to closely monitor the monthly statistics to see if in fact “the proof is in the pudding.”