Case Shiller Housing Index: July 2012: Positive Trends Continue

According to the Case Shiller Housing Index, prices increased by about 1.0% in July 2012 on a year-over-year basis and was up about 1.5% on a sequential basis during the same timeframe.

South Florida saw housing prices increase by 5.3% on a year-over-year in July 2012, according to the Case Shiller Index; the sequential movement was positive 2.1%. 

This is what David Blitzer, Chairman of the Index Committee at S & P said: “Home prices increased again in July. All 20 cities and both Composites were up on the month for the third time in a row. Even better, 16 of the 20 cities and both Composites rose over the last year."

He went on to say “The news on home prices in this report confirm recent good news about housing." "All in all, we are more optimistic about housing."

I continue to see shrinking inventory levels and continued interest in the markets that I serve.  When discussing the current market with other real estate professionals, they seem upbeat.  I recently talked with a person heading up a mortgage division.  He seemed encouraged by what he is seeing in the market.

Some areas of interest:

Jul-12	Monthly	Sequential	Annual
Metropolitan Area	Level	Change	Change
Boston	157.22	1.80%	0.90%
Chicago	116.7	2.70%	-0.90%
Miami	148.7	2.10%	5.30%
Minneapolis	123.17	3.70%	6.40%
New York	165.23	1.20%	-2.60%
Tampa	134.12	0.90%	3.60%
Composite 10	157.3	1.50%	0.60%
Composite 20	144.61	1.60%	1.20%
Source:
S&P Indices
Firserv

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. 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 http://homes.MYsouthFLrealestate.com


Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550


http://MYsouthFLrealestate.com



Referrals are appreciated and welcomed.



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