…All three housing price indicators posted yearover-
year double-digit gains as last year’s
“robo-signing” scandal continued to keep banks
from releasing their foreclosure inventory to the
market until they become more comfortable
that their process is not flawed for fear of legal
exposure.
The median sales price of a Miami property was
$165,000, 10% above $150,000 in the prior year
quarter and 1.5% above $162,500 in the second quarter. The average price per square foot and
average sales price followed the same year-overyear
pattern. The third quarter average price
per square foot jumped 14.2% to $209 and the
average sales price jumped 18.7% to $322,072
compared to the prior year quarter…