Good News About Home Prices from Case Shiller
Yet another positive report on US home prices. The Case Shiller House Price Index is one of the most watched indicators for US home prices so let’s look at what they had to say:
- US home prices are up 1.2% in the 2nd quarter of 2012 compared to the 2nd quarter of 2011
- US home prices are up 6.9% in the 2nd quarter of 2012 compared to the 1st quarter of 2012
- The June 2012 10- and 20-City Composites increased 0.1% and 0.5% compared to June 2011
Impressive? Yes certainly and this should be welcome news for anyone selling a home or concerned about their home’s value. However let’s look at home prices in Upstate South Carolina since that will be more helpful for you:
If we compare the statistics for June 2012 to June 2011, it doesn’t look too good for Upstate South Carolina. I would caution you that these numbers are for the entire WUAR MLS and will not tell you much more than the general direction of the market.
You can read more about real estate market conditions and home prices in the Market Reports.
Or if you thinking about selling your home, you can Contact Me
US Banks Getting Healthier
While I am not a fan of the banks or Wall Street, the FDIC just released some good news in their Quarterly Banking Profile. So what is the good news?
- The Number of Problem Banks Decreased
- The Level of Troubled Assets (Foreclosed Homes) Decreased
So fewer banks that are in danger of failing and fewer foreclosed homes that the banks need to get rid of.
More Real Estate News
If things are getting better why is the number of people on food stamps increasing?
Also related is the news that the home ownership level has decreased to the lowest level in 50 years. Which of course means owning rental homes should become even more profitable.
After several long and brutally painful years, the FHFA is finally issuing new short sale guidelines. I am glad they worked to get this done in a timely manner ( being a bit sarcastic there). Really? What the freak took so long? Imagine if they had actually implemented sensible guidelines for short sales 2 or 3 years ago?
Funny, I don’t feel wealthier: Americans Have Received A $1 Trillion Wealth Boost Thanks To The Housing Comeback Seriously though, right now could be a great time to build wealth by buying real estate while it is under valued.