Standard and Poor’s latest ranking/stats in the form of their Shiller report on housing is out. The PD blog post about it by Shaheen Samavati is here. I’m always harping about how real estate is local and these results point to that fact. As some of you who read this blog regularly know (and I thank you!), last month I did a series of stats on local housing sales. But our issues are not necessarily the issues of the other places in the Country that this study analyzes. They studied 20 markets, including us.
We actually did better, if you want to call it that, because we showed some improvement. You can read the entire April 2008 report by Case-Shiller/Standard & Poor here. Apparently we were one of three areas to show a slight improvement since their March Report came out.
The last results listed by my multiple listing service, NORMLS, were for May (not reflected yet in Case-Shiller).
May 2008 saw 3,281 new single family homes listed. For the same month (May) in 2007 there were 4,018, so about 800 less single family homes went on the market this year than in May of 2007.
We’ll be able to see how we did on the Case-Shiller study for May in I bet another four weeks. One thing I have noticed is that there is a growing market of people who are buying the foreclosed properties.
I would love to hear your 2008 home purchase experiences – if any of you would not mind sharing them. I know I found it interesting to hear from people when I did the stats series last month. Anyway, I thought you might want to browse the Case-Shiller study to do your own analysis. Peace Out – 3C
Update: Thanks to Ines of the Miamism blog who forwarded this link from CNN/Money. Seems like a better article than the PD post – more information on Cleveland. And more opinions too. What are yours?
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment