Will your home gain value over the next 12 months? Nobody can know for sure, but should recent housing trends continue, there’s concrete cause for optimism.
Will your home gain value over the next 12 months? Nobody can know for sure, but should recent housing trends continue, there’s concrete cause for optimism.
As the new year begins, there are no shortage of stories telling us what to expect in 2012.
Standard & Poor’s released its September 2011 Case-Shiller Index this week. The index tracks home price changes in select cities between months, quarters, and years. The Case-Shiller Index for September showed drastic devaluations nationwide.
According to the January Case-Schiller Index, values are down 3.1% from last year, retreating to the same levels from Summer 2003. As a buyer or seller in today’s market, though, don’t read too much into it. The Case-Shiller Index is far too flawed to be the final word in housing.
Prior to 2009, the Home Opportunity Index rarely topped 65. The index has remained above 70 ever since.
Overall, buyers are being drawn into housing by low mortgage rates, affordable homes, and ample supply. If the August Pending Home Sales Index is foreshadowing the fall housing market, home prices appear slated to rise.
Home values “crept forward” in July. But not that it matters — the Case-Shiller Index is a better tool for economists than it is for homeowners. There’s 3 reasons why.
According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier. It’s the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results.
Standard & Poors released its Case-Shiller Index Tuesday. On a seasonally-adjusted basis, between April and May 2010, home prices rose in 19 of Case-Shiller’s 20 tracked markets. It’s the second straight month of strong Case-Shiller findings.
According to The Conference Board, economic confidence is as high as it’s been since August 2007 — 4 months before the start of the recession. Americans are optimistic again. It’s good for home prices but bad for mortgage rates.