Case Shiller Shows Some Signs of Life Sarasota Real Estate Prices
The Standard and Poors Case Shiller Home Price Indicies are one of the most authoritative and widely quoted measures of changes in home prices. You can read about the index and how it is constructed at the Standard and Poors Site. There is a 3 month lag in reporting of the index. The figures release in July 2010 are for results in April 2010.
The Case Shiller Home Price Indices for most markets measured increased during April. The Miami market was one of two exceptions (NY City being the other), dropping -.8%. Tampa increased .5% while the 20 market national composite was up .8%
Big Gainers
This month's price leaders were Washington DC (+2.4%), San Francisco (+2.2%), Dallas (+2.2%), Minneapolis (+1.8%), and Portland OR (+1.8%).
Year-to-Date
Since the beginning of 2010, the Miami index has dropped 2.4%. The Tampa index has declined 1.3%. The 20 market composite index is down just .8%.
San Diego (up 3.3%) and San Francisco (up 2.5%) are the 2 stongest markets this year.
The worst markets this year are still the midwest, with Chicago down 5.8%, Detroit down 6.5% , and Minneapolis down 3.8%. The one exception in the Mid West is Cleveland (up .9%). A bad Mid Western market is not good for Sarasota and Bradenton real estate prices because the Mid Western states are huge feeder markets for us.
