Home Prices in Miami Expected to Tumble By About 30% by Next June

Nope, the Miami real estate market is not gearing up for a miraculous rebound. It's not even reached rock bottom, at least according to one analysis. CNNMoney reports that Fiserv, a financial information and analysis firm, predicts the average home price in Miami to tumble another 29.9 percent by next...

By Kyle Munzenrieder

October 20, 2009

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Nope, the Miami real estate market is not gearing up for a miraculous rebound. It's not even reached rock bottom, at least according to one analysis. CNNMoney reports that Fiserv, a financial information and analysis firm, predicts the average home price in Miami to tumble another 29.9 percent by next June. That would be the biggest fall in the country. Nationally home prices are expected to drop by 11.3 percent.

Fiserv predicts that the average home in Miami will only go for $142,000 by June 2011.

Though, CNN notes that the report is at odds with other recent reports that say home prices across the nation are beginning to stabilize.

[CNNMoney: Homes: About to get much cheaper]

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