The S&P data show the end of the home-buyer tax credits April 30 had the greatest effect on the Miami metro area -- Palm Beach, Broward and Miami-Dade counties . They were the only two regions in the 20-city index to post declines. On a year-to-year basis, South Florida prices fell by 0.5%.
The index is considered a strong measure of home prices because it examines price changes of the same property over time, instead of calculating a median price of homes sold during the month, as the Florida Realtors trade group does.
David Blitzer, chairman of the index committee at S&P stated:
"Figures from Florida Realtors show that prices have stabilized recently in South Florida.
Consistent and sustained boosts to economic growth from housing may have to wait until next year,”
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