Case-Shiller Reports Real Estate Prices up Again

Some people immediately find negatives in good news. If you look hard enough you’ll find it, every time. The reality in the real estate market is that for the past 3 years you didn’t have to look very hard to find the bad news.  Good news was about as common as snow in June. But it did snow near Steamboat Springs in June.   And for 2 straight months now we’ve had good news with real estate values as well. So let’s recognize it and take it for what it is: real estate values are getting better nationwide and in Steamboat Springs, Colorado.

Case-Shiller (a major indicator for real estate values) end of May reports show not only an increase in home prices for 16 out of 20 major metropolitan cities, but also looking a little more closely with my rose colored glasses, it shows the sub-bullet good news:

• that’s 3 more metropolitan cities than showed price increases in April
• one of the 4 metro areas that didn’t show a price increase, Phoenix, actually held steady and didn’t decline, so from my perspective that’s a win

Adding to April’s lucky 13 price increase metro areas, with their own price increases in the month of May are:

• Boston
• Chicago
• Miami

Hmmm,  all competitive pro football cities, but that’s a whole different good news scenario and a whole new season that’s about to start!

Some immediately credited this good news as being “seasonal”…that prices should be up this time of year. Well, nothing has been as it “should be” in the real estate market for quite some time, so I’m not giving credit to something as intangible as seasonality. Nor am I saying that the long-awaited recovery is upon us. Annual price comparisons are certainly not favorable, nor are new and existing home sales trends.

But in the spirit of optimism – good news is meant to be shared so let’s take a minute and be happy about the positive real estate numbers on one metric for a second consecutive month and while we’re at it…did you know that the first Monday Night Football game is September 12^th and the teams are Boston & Miami…who just happen to be two of the three newest rays of hope in the real estate market!

—For more information on real estate in Colorado or questions regarding Steamboat Springs real estate  in Steamboat Springs, Colorado, feel free to call me at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com.

Regards,

Charlie