Miami Home Prices Fall Sharply

According to the latest report from S&P Case/Shiller released yesterday, the housing market continues to get worse each month. The real estate industry considers the report to be one of the most accurate with regards to home prices.

The report states that the worst hit market of the 20 metro areas they cover was Miami, where median home prices fell a depressing 15.1 percent in value from one year ago. In addition, the number of new home sales across the nation fell more sharply than any year on record; and the sales of existing homes fell to their lowest level in 27 years.

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