The S&P Case-Schiller home-price index for June 2010 may show the real estate market is beginning to recover. Karl Case, the co-creator of the index, said he sees, "a lot of positive stuff" in the report on home prices in June 2010.
The Case-Schiller index indicated property values increased 4.2% in June 2010 over June 2009. Mr. Case said the trend has been positive for almost a year.
In a radio interview, Mr. Case said that depending on the economy, he expected the US housing market to stabilize or possibly weaken a little during the next year.
“It generally takes four or five years to stabilize the whole market,” Case said. “We’re into about four now.” If Mr. Case is correct, now might in fact be a good time to purchase a home.
The Index looks at the US market as a whole and there may be sub-pockets that may not move in tandem with the overall market. Nonetheless, the Florida real estate market has been hurt more than other areas of the country as a result of swift price increases during the housing boom years. As such, the long-term value proposition of the Florida real estate market seems promising at current price levels.
I work with buyers, sellers, renters, landlords, investors, etc. Please contact me for all of your South Florida real estate needs.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100
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