Case-Shiller Report August 30, 2011

30 08 2011

The Case-Shiller Report flipped for the second quarter from -4.1% to a +3.6%.  Twelve of the Metropolitan Statistical Areas and both composites have now posted positive numbers for the past three months.

“This month’s report showed mixed signals for recovery in home prices. No cities made new lows in June 2011, and the majority of cities are seeing improved annual rates. The National Index was up 3.6% from the 2011 first quarter, but down 5.9% compared to a year-ago,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices.

 This is the most positive thing David Blitzer has said this year.  Perhaps, he, too, is feeling some optimism.  As well all know, prices are still down compared to last year; however, the recent trend upward is a very positive sign on a national level.  Of course, there is a seasonal adjustment for summer that is necessary to add, which the report points out a number of times, but the seasonal adjustments from last year were still down compared to this year. 

In this report, the nation is at early 2003 price levels, Portland stayed the same near November 2004 levels and Seattle is near November 2004 levels.  This is another decent indicator of the bottom possibly being here now or behind us.  A leveling off is occurring. 

Stay tuned and hopeful.  It looks like some pretty good sailing is in front of us.

 

Here is the full report in .pdf form.     case-shiller August 30, 2011   

 

Dustin Miller

Realty Trust Group

DustinM@RealtyTrust.com

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30 08 2011
Denver Ranks #3 in Case-Shiller

[…] down shouldn’t that Seller take my low offer?” Maybe not and here’s why.Some real estate blogs suggest this is good news. The Case-Shiller statistics have shown that the overall Denver metro […]

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