As of July 2012, average home prices across the country have rebounded back to their summer 2003 levels, according to the S&P/Case-Shiller National Home Price Index released on Tuesday of this week. The index tracks the value of single-family housing within the United States based on home prices for 20 major cities including Atlanta, Boston, Charlotte, Chicago, Las Vegas, Miami, New York, Tampa, Portland, and others.

In all 20 U.S. cities studied, home prices increased in July when compared to June, with an average increase of 1.6%. In addition, 16 of the 20 cities also experienced price increases in a year-over-year comparison, with an average increase of 1.2%.

Miami, one of the cities hardest hit when the housing bubble burst in 2006, has rebounded quickly and shown positive monthly gains since the start of the year. Home prices in Miami have increased by 2.1% since June and 5.3% since July of last year. In Tampa, home prices have risen almost 1% since June and 3.6% since this time last year. The positive real estate trends in these Florida cities reflect the movement we’ve also seen here in Central Florida as the housing market slowly recovers.

If you are thinking about selling your Orlando home, now is an ideal time since home prices are rising in Florida and long-term mortgage rates are at record lows. Contact our Orlando title insurance company for reliable listing agent referrals. We are ready to help you through the entire real estate transaction process because we believe that our clients deserve the very best, personalized service. Give us a call at 407-615-8550 today!