Miami was one of three cities, including Phoenix and Washington D.C., to post a positive month-over-month change in housing prices according to Case-Shiller. Miami’s index gained 0.6 percent since December 2011.
The 20-city composite index was down 3.8 percent compared to January 2011 and fell 0.8 percent on a month-over-month basis. U.S. home prices are now roughly equal to those in early 2003.
Home prices dipped nationwide for the fifth consecutive month in January, according to Standard & Poor’s Case-Shiller Home Price Index.