Holy Cow! Home Prices Improve!
The S&P Case-Shiller home price index is reporting a price increase of 0.4% for the Tampa Bay area from May to June, 2009. That, as memory serves, is the first residential property price increase in the past three years.
I grant you it's just for a 30 day period. Sure, it could be just some kind of goofy anaomoly with the numbers. Yeah, I know, one month does not make a trend.
Even so, it sure is interesting news and might mean that the worst of the real estate slump is behind us, or at least starting to improve.
When you look at the big picture, it's not quite so pretty. Case-Shiller reports that the annual numbers still show that area housing values are down 19.5% from June 2008 to June 2009.
But who cares? Let's be positive about real estate for a change!
I think this is a great excuse to open that special bottle of Merlot I've been saving for just such an occasion.
I grant you it's just for a 30 day period. Sure, it could be just some kind of goofy anaomoly with the numbers. Yeah, I know, one month does not make a trend.
Even so, it sure is interesting news and might mean that the worst of the real estate slump is behind us, or at least starting to improve.
When you look at the big picture, it's not quite so pretty. Case-Shiller reports that the annual numbers still show that area housing values are down 19.5% from June 2008 to June 2009.
But who cares? Let's be positive about real estate for a change!
I think this is a great excuse to open that special bottle of Merlot I've been saving for just such an occasion.
-30-
posted by Terry Ward at 4:19 AM
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