According to a recent report from Core Logic, distressed real estate continues to put a damper on Miami-Dade’s housing market. New numbers show a nearly four-point spread between price gains in the overall housing market and price gains when distressed sales are eliminated. That is higher than the one-point spread nationwide and Broward’s spread of 1.5 percentage points.
In Miami-Dade, home prices increased 10.6 percent at the end of 2013 compared to the end of 2012. When leaving out sales of distressed properties (i.e. – sales by banks or homes in the foreclosure process) the gain would have been 14.5 percent, Core Logic said.
In Broward, the overall market saw prices rise 13.7 percent. Leaving out sales of distressed properties, the gains were 15.2 percent. Nationwide, it was an 11-percent gain for all property sales and a gain of 9.9 percent for non-distressed properties, according to Core Logic.
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