Case-Shiller Home Price Indices June 28, 2011 Report

28 06 2011

The Case-Shiller Report is out today and it did what I thought it would do…it went up!  The report covers data up through April 2011 and back. 

 “In a welcome shift from recent months, this month is better than last – April’s numbers beat March,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “However, the seasonally adjusted numbers show that much of the improvement reflects the beginning of the Spring-Summer home buying season. It is much too early to tell if this is a turning point or simply due to some warmer weather.”

 Well, David and I seem to always be butting heads on his use of negative adjectives in the recent months.  In this report he uses words like “small” and “scant” when I think he could just eliminate them from his report and stick to the facts.   Last month he said, “Home prices continue on their downward spiral with no relief in sight.”  Perhaps it is time for a little “focus on the positive and eeeeeliminate the negative,” as Harvey MacKay, motivational speaker and best-selling author once said.

 The 10-city and 20-city composites went up 0.8% and 0.7% respectively between March and April 2011. If you look back a year, these composites are down -3.1% and -4.0% from the April 2010 levels.  Existing home sales are up, in general, nationally and the S&P credit default indices are showing a decline in new defaults since last November.

 In this report, Portland is near September 2004 levels and Seattle is near July 2004 levels.  This statement is the exact statement I made from last month.  Which means this could be an indication that a leveling off could be occurring.  Two months at the same number is one way to track a possible starting trend.  We have had these types of trends three times in the past four years, April 2008, March 2009 and January 2010.  It can be considered seasonal for the “new season” in real estate for now.

 I think it is o.k. to look up for now as our local numbers will most likely confirm an improvement for next month’s Case-Shiller report as well.

 

 

S&P Case-Shiller June 28,2011   The full report in .pdf form.

Dustin Miller

Realty Trust Group

DustinM@RealtyTrust.com

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Portland Metro Real Estate Report for June 2011

21 06 2011

‘Tis the season.  Sales are up and…believe it or not, prices are up too.

 It is a bit of a dart board in places around the Portland Metro Real Estate Market, but overall we are seeing some very positive signs for both buyers and sellers.

 Good sale increases came in some of the lower price ranges as well as the upper end too for Portland Metro.  It is hard to pick winners and losers in this month’s report as some lower price ranges actually declined while others increased.   It is hard to take a true temperature of why some areas have picked up over others at this point.  West Portland and Lake Oswego saw an increase in numbers in the higher ranges above $900K similar to the beginning of the year.  The close-in east side also continues to be in demand for the current pool of buyers as well.

 As far as price, the numbers in North Portland sales went up 9.67%.  Oregon City and Lake Oswego followed a close second at 6.53% and 6.64% for their average sales price.  The other encouraging statistic is the bank-owned category which seems to be down significantly in the newly active listings for this report.  In general, the bank-owned pending and sold homes are down 59.87% and 13.59% for the rolling average.  The average sales price overall went up 3.82% for pending homes and 2.93% for sold homes.

Average Sales prices are counter to the recent RMLS Market Action report for June which had them down 4.8% at the end of May. The July Market Action may just have an increase to report if these numbers hold.  Keep a watch out for the Standard & Poor Case-Shiller report too.  It may have some sort of increase to report at the end of the month.

All in all, the numbers are showing some positive and negative trends alike.  Solid ground may not be here yet, but it may be just stable enough to consider it an improvement which may take hold.

 Enjoy the full report and please feel free to contact me regarding any questions.  I love to talk past, present and future!

 Complete Portland Metro Report June 2011 

 

 

Dustin Miller

Broker

Realty Trust Group

 

 

 





June 2011 RMLS Market Action for Portland, Oregon

16 06 2011

Give and Take. . .

Prices went down both month-to-month and year-to-year.  This is different than last month when we had the second increase for average sales price in Portland in two months.  We are down 4.8% in average sales price compared to last year and down 1.8% in average sales price compared to last month.  The good news, though, is that activity is picking up considerably.  Pending sales are up 45% over last year though closed sales are down.  Last year’s low numbers had a little to do with the tax credit expiration date but this kind of increase without any true explanation is great news.  Folks are getting off the fence with interest rates bouncing up and down like the stock market.

 

 Compared to Last Year

Inventory down 0.2 months.

Closed sales down 15%.

Pending sales up 45.1%

New listings down 4.1%.

 

Compared to Last Month

Closed sales up 8.1%

Pending sales up 8.1%

New listings up 7.7%

 

Still Paddling . . .

 

 

 

 

 

June 2011 market action

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