Case-Shiller: Miami Home Prices Rose 3.53% in the Year Through July

Miami home prices rose 3.53% in the year through July 2026, according to the S&P Cotality Case-Shiller Index released September 29. That is up from a 2.27% annual gain in June and ahead of the National index at 1.9%, the 20-City Composite at 2.5% and the 10-City Composite at 3.4%. Chicago led the 20 cities at 6.86%. Seattle was lowest, down 1.57%.

How to read this index

• It lags. The September 29 release covers July. Anything that happened in August or September, including the 30-year mortgage rate crossing 7% on September 24, is not in these numbers.
• It tracks repeat sales. Case-Shiller follows repeat sales of single-family homes, so it compares the same houses over time.
• It covers the metro. Miami here means the three-county area of Miami-Dade, Broward and Palm Beach. It will not match MIAMI REALTORS' Miami-Dade figures, which put the August single-family median at $680,000, up 3.82% year over year.
• It is still rising month to month. Miami's index rose 0.39% from June to July, or 0.42% seasonally adjusted, after a 0.35% gain from May to June.

Florida is not moving as one market. Tampa's index fell 0.73% over the same twelve months while Miami's rose 3.53%, a gap of more than four percentage points inside one state, by my subtraction.

S&P added its own caveat. Rebecca Kaufman of S&P Dow Jones Indices noted that home prices continued to decline in real terms in July 2026, the 14th consecutive month of real declines. In plain English: nationally, home price gains are running behind inflation.

My read

Miami's number is solid, not overheated. A 3.53% annual gain against 1.9% nationally says demand for Miami-area houses held up through the middle of the year. But this is July data, and borrowing costs have moved since. If you are selling a single-family home in Miami-Dade, this index plus a 4.9-month supply still supports confident pricing. If you are buying, remember the index describes houses. Miami-Dade condos are a separate market, with an August median of $408,000, down 0.49% year over year, and 12.1 months of supply. Price the property in front of you against its own recent comps, not a three-county headline.