What the Case Shiller Report is Actually Telling Us from Keeping Current Matters
Case Shiller released their latest Home Price Index yesterday. The headlines that followed were true but, in our opinion, a little misleading. Here are some of the highlights of the report that have dominated major media coverage:
- Home prices rose 5.5% in the 12 months ending in November 2012 (the latest data available).
- In the 12 months ended in November, prices rose in 19 of 20 cities.
- Housing is clearly recovering. Prices are rising as are both new and existing home sales.
Great news for the housing industry. Realize however that all the highlights mentioned above refer to year-over-year comparisons. Read More….
For more information, visit: http://www.kcmblog.com/