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Three Florida Metro Areas Lead In Home Price Increases

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ORLANDO (CBSMiami/AP) — The market of homes for sale could see some interesting changes in 2015.

Three Florida metro areas had among the biggest increases in home prices year over year.

The firm RealtyTrac said last week that Lakeland, Miami and Sarasota had among the biggest gains in home prices from November 2013 to November of this year.

Lakeland's median sales price increased 18 percent. Miami saw an acceleration of 13 percent, and Sarasota had a 12 percent increase.

However, two metro areas in Florida were at the top of the list in distressed sales. Distressed sales made up around a quarter of all sales in Miami and Jacksonville.

Distressed sales include foreclosures or when a home is sold for less than what an owner owes on the property.

(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)


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