Home prices continue to rise nationwide. According to the Standard & Poor's Case-Shiller Index, home prices rose 6.9% between the first and second quarter of 2012, the largest quarter-to-quarter gain since the home-value tracker's 1987 inception and another signal that the housing market is in recovery. The private-sector metric's results are similar to what the government's Home Price Index showed for June, too -- values rising quickly. In addition, for the second straight month, each of the Case-Shiller Index's 20 tracked markets showed month-to-month improvement. June would … [Read more...]
Case-Shiller Index Shows Home Values Rising Nationwide
According to the S&P/Case-Shiller Index, home values rose 2.2% nationwide, with all 20 tracked markets making month-to-month improvement. On an annual basis, 17 of the 20 Case-Shiller Index markets improved. Despite the positive report, however, our enthusiasm for the May Case-Shiller Index should be tempered. This is because the index's methodology is less-than-ideal for today's Phoenix home buyer. There are three main reasons why : The Case-Shiller Index tracks values for single-family homes only The Case-Shiller Index is distorted by distressed, discounted home sales … [Read more...]