December Case-Shiller national data mixed, but locally demand appears to be picking up

The Case-Shiller data over the past nine months has been positive, showing month-to-month though not yet year-to-year price improvement in many of the twenty surveyed cities.

The December report is a little more mixed:

“The turn-around in home prices seen in the Spring and Summer has faded with only seven of the 20 cities seeing month-to-month gains, although all 20 continue to show improvements on a year-over-year basis. All in all, this report should be described as flat.” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s.

Are we headed for positive year-to-year gains in this national poll sometime this Spring? We’ll see, but we’d also note that ‘all real estate is local’. Indeed, the week of December 24th thru January 3rd yielded the biggest single week of contracts for OSRG since May of 2008. Here comes the pent up demand!

You can read the entire article here.

What do you think?

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