Miami home prices jump 22 percent!

According to a report from the Miami Association of Realtors, Miami home prices rose for the sixth consecutive month in May, with a 22 percent increase in the median sales price of condos. The median sales price of single-family homes rose 6 percent in May; both increases were compared to the same period in 2011. “Miami home prices have experienced double-digit appreciation consistently over the last six months,” said Martha Pomares, chairman of the board of the Miami Association of Realtors.