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Home Prices Improve In 95% Of Case-Shiller Markets In August

By
Real Estate Agent with CONLON/Christie's International Real Estate

 

Case-Shiller August 2009

For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It's the first time in 3-plus years that the benchmark housing index has shown such strength.

According to a Case-Shiller Index spokesperson, "The rate of annual decline in home price values continues to improve."

It's yet another sign that housing may have already bottomed.

However, just because the Case-Shiller Index shows a stabilization in home values, that doesn't necessarily make it true. This is because real estate happens on the local level and the Case-Shiller Index is more "national". It tracks data in just 20 U.S. cities.

Homeowners everywhere else are unaccounted for.

Furthermore, even within the 20 tracked Case-Shiller markets, there's no allowance for the natural sub-markets that exist. Some neighborhoods under-perform and some neighborhoods out-perform.

Case-Shiller treats them all the same.

Despite its imperfections, though, the Case-Shiller Index remains a helpful, broader measurement of U.S. real estate. Economists believe that housing led the U.S. into the recession and they believe housing will lead us out, too.

If that's true, August's Case-Shiller data is another step in the right direction.

 

Posted by Michael LaFido on October 28, 2009 | Tags: Case-Shiller

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Comments (1)

France and Mark Clausen
Realty Austin - Dripping Springs, TX

I'll take good news where I can get it. No doubt real estate is local but this is the beginning of a trend. I am lucky to be in the Austin market and our biggest problem is the people relocating here can't sell there homes elswhere.

Oct 28, 2009 10:34 AM