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Case-Shiller index: Home prices continue to strengthen

An index measuring South Florida home prices rose 10.

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An index measuring South Florida home prices rose 10.8 percent in January from a year earlier, marking a 13th consecutive month of increases.
The Standard & Poor’s/Case-Shiller index also showed widespread improvement across the country, with the biggest price gains since 2006. All 20 metro areas posted price jumps, with Phoenix leading at 23 percent.
“Economic data continues to support the housing recovery,” David M. Blitzer, chairman of the index committee at Standard & Poor’s, said in a statement.

Case-Shiller tracks prices of the same house over time. Some analysts say that’s a better measure of the market than median prices of homes sold in a given month. But the index does not include prices for condos and trails Realtor board data by a month.
Last week, the Greater Fort Lauderdale Realtors said Broward County’s median price in February was $227,000, a 23 percent increase from a year ago. In Palm Beach County, the median price last month was $235,000, up 27 percent from a year earlier, according to the Realtors Association of the Palm Beaches.
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