Home prices continue to rise in the area of South Florida. Even better news is that the residential real estate price increases are starting to slow down. This means the working and middle classes in this part of the state might see more affordable properties over the next few years. The working and middle classes have essentially been locked out of Florida's housing boom up to this point due to the fact that home prices are soaring above wages.
Housing prices in the counties of Palm Beach, Miami-Dade and Broward increased by almost half a percent in July over the previous month. These prices were up more than 7 percent from last July. When the housing market was robust in 2013, prices increased by a whopping 2 percent a month or more.