Case-Shiller Shows Home Price Improvement In Majority Of Cities Nationwide

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

Case-Shiller Shows Home Price Improvement In A Majority Of Cities Nationwide

 

Case-Shiller Monthly Change Dec 2009 - Jan 2010

Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index's tracked markets.

The strength of this month's Case-Shiller report, however, should be put in context.

For one, the report is on a 2-month delay; it's showing data from January, before the start of the Spring Buying Season and before the rush to beat the tax credit. Anecdotally, buyer interest has been strong since, leading to the types of multiple offer situations that drive home prices northward.

In other words, home values may be even higher than what's reflected in the January Case-Shiller data above.

Furthermore, the Case-Shiller Index measures home values in just 20 cities nationwide and they're not even the 20 biggest cities. Houston, Philadelphia, San Antonio and San Jose are specifically excluded from the report and each ranks among the country's 10 most populous areas.

Despite its flaws, though, the Case-Shiller Index remains important. Much like the government's Home Price Index, the private-sector report helps to finger broad housing trends and housing is still considered a keystone in the U.S. economic recovery.

Even if it's two months slow.

 

Posted by Michael LaFido on March 31, 2010 | Tags: Case-Shiller Index

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Like all such "stats", it's never "exactly in the moment", but it is a guide.    Interesting....

Mar 31, 2010 04:16 AM #1
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Micheal - Thank you for sharing an informative and helpful blog.

John

Mar 31, 2010 04:38 AM #3
Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Michael:  As you point out, this report is not representative of many of our largest, most populated cities ... but the report is still clear about one thing.  Many areas are beginning to see positive numbers relating to its housing industry and sales.  I will take positive reports and news anytime.  Positive builds more positive ...

Gene

Mar 31, 2010 07:08 AM #4
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Michael LaFido

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