What Little I Know…

The US Real Estate market reports seem to follow a pattern reminiscent of a roller coaster.  Depending on who you talk to, and when you speak to them, you could be under the impression that the real estate trends show that the housing industry is heading in a positive direction.  However, today’s numbers coming out of S&P/Case Shiller Home Price Indices report, show that US housing prices are down 30% when compared to their peak in 2006.

In regards to today’s S&P real estate index, David M. Blitzer, Chairman of the Index committee said, “There are very few bright spots that one can see in the data.  Most of the nation appears to remain on a downward path, with all of the 20 metro areas reporting annual declines, and nine of the MSA’s falling more than 20% in the last year”.

Other interesting points of data from the S&P/Case Shiller Home Price Indices report:

• The three regions reporting the greatest declines were Phoenix, Las Vegas and San Francisco.

• The three regions showing comparatively better numbers were Dallas, Denver and Cleveland.

You can download the S&P report here: Real Estate Home Price Index – S&P