Sarasota Region’s home prices increase most in U.S. in August 2015

Sarasota-florida-homesHome prices in Southwest Florida continue to rise at a faster  rate than the state and the nation.

But analysts expect home-price appreciation to slow in the coming year.


Single-family home prices jumped in August by 11.6 percent in the Sarasota-Manatee region and by 9.4 percent in Charlotte County, data provider CoreLogic reported Tuesday.


Both outpaced the year-over-year increase of 8.1 percent in Florida and 6.9 percent nationwide.


Florida ranked sixth in the nation for annual price gains.

Despite those steadily rising values, home prices in Florida remain 28.1 percent off their pre-recession peaks.


For the next 12 months, CoreLogic forecasts a more moderate 4.3 percent increase in U.S. home prices.

“Economic forecasts generally project higher mortgage rates and more single-family housing starts for 2016,” said Frank Nothaft, chief economist for CoreLogic. “These forces should dampen demand and augment supply, leading to a moderation in home-price growth.”


Prices in Southwest Florida have been boosted by a shrinking supply of existing homes for sale this year. The Florida Realtors trade group previously reported that prices of single-family homes in Sarasota-Manatee jumped 21 percent in August, with the median sale price up $44,000 to $250,000.


From July to August, home prices rose 1.4 in Sarasota-Manatee and 0.7 percent in Charlotte, CoreLogic said.


Region’s home prices increase most in U.S. in August 2015

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