The S&P Case Shiller Home Price Indices have shown increasing prices for the sixth month in a row. Third quarter average is up 3.6% compared to third quarter 2011 and up 2.2% over second quarter 2012.
The Phoenix Metropolitan Area showed the greatest year over year increase with 20.4%. The San Francisco Metropolitan Area showed a 7.5% increase also trailing behind Minneapolis and Detroit. The only two areas out of twenty to show a decrease were Chicago and New York
Yes, it's exciting news and great that the news is starting to consistently post positive news regarding real estate, confirming what we on the front line have been experiencing and saying since the beginning of the year. Here's to hoping the trend continues!
That's just for this quarter! Yes, home prices have been rising steadily in the bay area, which is a good thing for homeowners. Inventory is scarce in a lot of places.
I put a lot of credence into the Case-Shiller report, as do my clients. Glad to see some positive movement there for bay area properties. Good news!
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