It may just be a blip, but South Florida homeowners will take good real estate news where they can get it.

A housing-price index that excludes foreclosure sales showed South Florida homes sold for 1.2 percent more in December than they did in November. The FNC Residential Price Index does not adjust for seasonal swings in the housing market, but it’s encouraging to note that December 2010 saw a 2 percent dip in the South Florida index. A gain for December 2011 hints at a possible turnaround in an historic collapse in prices. Whatever the cause, Miami was in the minority for December. Of the 30 metropolitan areas tracked by FNC, only seven saw higher prices than they did in November. Tampa joined Miami in beating the curve in December with a higher FNC reading, another good omen for real estate in the Sunshine State.

Or not. Similar indices — most notably the Case-Shiller index — have bounced off lows in the past, only to resume a general slide that began five years ago. The FNC index shows home prices are down 55 percent from their peaks. Case-Shiller mostly agrees, showing a 51 percent drop.

DOUGLAS HANKS

Tags: Buy Home Today, Real Estate News

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