Miami home prices rise slightly

Miami home prices rose 0.9 percent in May, according to the latest Standard & Poor's/Case Shiller Home Price Index, after a 0.8 percent drop in April. Year-over-year, home prices in Miami were up 1.2 percent, while the 10-city nationwide composite was up 5.4 percent. Last week, Florida Realtors reported that sales of existing single-family homes were up 15 percent statewide in June -- the 22nd consecutive month that sales activity went up. The median existing home price in Florida was $143,000 in June, a 2.1 percent jump over May's price of $140,400. [SFBJ]