Case-Shiller Home Prices December 2013

31 12 2013

Which Way Are We Going?“The key economic question facing housing is the Fed’s future course to scale back quantitative easing and how this will affect mortgage rates,” said David Blitzer, Chairman of the S&P Case-Shiller Indices. “Other housing data paint a mixed picture suggesting that we may be close to the peak gains in prices. However, other economic data point to somewhat faster growth in the new year. Most forecasts for home prices point to single digit growth in 2014.”

Huh?

I guess we get a freebie on this one.  If you want to see the glass half-full you can rest on the last two lines in the quote.  If you want to see it half-empty, you can take the second line for your day.  And, if you want to play it a little cautious, you can use it all and say, there is still too much in question with the “other” economic data to really make an educated guess as to where housing prices will go in 2014.

Nationally, in both the 10-city and 20-city composites we are up 13.6% for the year and 0.2% for the month of October.

Portland is at October 2005 levels at 160.46 (we also hit near here on the way down in December 2008).  This is up from last month reported by 0.2% and 12.7% increase for the year to date.

Take the day off, worrying about this for the end of the year will really get you nowhere.Whew...

 

The Full Report Here: The December 31 CS Report

 

 

Dustin Miller

Broker/Market Analyst

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