Paul's Appraisal Blog

HOUSING: Case-Shiller index shows values rising for sixth consecutive month
January 31st, 2010 5:57 PM

Key measure up 6.9 percent since May

(By the North County Times)

Home values in San Diego County rose in November for the sixth straight month in seasonally adjusted terms, and grew 6.9 percent from the nadir in May, according to a key home price index released Tuesday.

Standard & Poor's Case-Shiller Home Index, which measures changes in the resale value of single-family homes, found that November prices rose 1.02 percent from October in seasonally adjusted terms in the county, faster than the 0.24 percent growth rate nationally.

San Diego's index also rose 0.4 percent from the same month last year, the first year-over-year growth in the local Case-Shiller measurement since March 2006, when the local index peaked. It's still down 38 percent from then.

Case-Shiller doesn't measure home values in Riverside County, but the November median home price there rose 6 percent from October to $190,000, according to real estate data firm MDA Dataquick. That figure was still down 10 percent from the previous November.

(Read Entire Story)

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Posted by Paul McEwen on January 31st, 2010 5:57 PMPost a Comment

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