Miami, Tampa top home price increases

TALLAHASSEE – Miami and Tampa topped other metro areas in the state for home-price increases in October when compared to a year earlier, though prices are weakening across the country.

According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, the Miami area had a 21 percent year-over-year increase, while the Tampa area had a 20.5 percent increase. The Charlotte area was third-highest with a 15 percent increase.

But the report, which provides data on 20 metropolitan areas, said home-price increases have slowed across the country.

“As the Federal Reserve continues to move interest rates higher, mortgage financing continues to be a headwind for home prices,” Craig J. Lazzara, managing director at S&P DJI, said in a prepared statement. “Given the continuing prospects for a challenging macroeconomic environment, prices may well continue to weaken.”