On a national basis, the Case Shiller Index showed a sequential improvement in 2Q:11 from the 1Q:11 low, but still posted an annual decline of 5.9% versus 2Q:10. Nationally, home prices are back to levels seen in 2003.
David Blitzer, the chairman of the Index Committe at S & P Indeces implied there are mixed signals on the housing market throughout the country. He suggests that we are in a state of regional housing markets, as opposed to a "national market" where everything rose and fell together.
The South Florida region showed a 0.6% sequential drop home prices in June 2011 over May 2011; this compares with a 1.1% average increase for the nation. On a year-over-year basis, the price of the average home fell 5.1% in June 2011 versus June 2010; and this compares with an average 4.5% year-over-year decrease for the nation.
Some areas of interest were as follows:
June 2011 June/May May/April
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.47 2.4% 2.6% -2.1%
Chicago 115.61 3.2% 1.7% -7.4%
Cleveland 100.68 1.5% 1.2% -6.1%
Miami 139.46 0.6% 1.2% -5.1%
Minneapolis 112.31 3.2% 2.7% -10.8%
New York 166.59 0.9% 0.7% -3.6%
Tampa 128.90 1.3% 0.7% -7.0%
Composite-10 154.88 1.1% 1.0% -3.8%
Composite-20 141.30 1.1% 1.0% -4.5%
As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free to contact me.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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