The September 2011 Case-Shiller Index on housing showed a similar trend of slight price reductions. The nation experienced a home price decline of about 3.5% year-over-year in September and about 0.5% sequentially.
The South Florida market saw a 4.0% year-over-year decrease in September 2011 and a 0.7% drop on a sequential basis.
Most tend to agree an improved job market is needed in order to get some positive movement on home prices in the US.
Washington, DC area continues to outperform the rest of the country. The federal government is one area where spending has continued and that is where home prices are on the rise. I think this is more than just a coincidence. The rest of the country needs to experience private sector job growth in order to get things moving again, in my view.
Other areas of interest:
September 2011 September/August August/July
Metropolitan Area Level Change (%) Change (%) 1-Year Change (%)
Boston 154.39 -0.8% -0.1% -1.2%
Chicago 118.49 -0.8% 1.4% -5.0%
Miami 139.83 -0.7% -0.3% -4.0%
Minneapolis 114.65 -0.9% 0.3% -7.4%
New York 169.92 0.1% 0.5% -2.6%
Tampa 127.37 -1.5% 0.0% -6.7%
Composite-10 155.73 -0.4% 0.2% -3.3%
Composite-20 141.97 -0.6% 0.1% -3.6%
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 text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
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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