It’s the Case-Shiller August Top 10

It’s the Case-Shiller August Top 10

Before you go further, this Top 10 is broken out and it’s only half good news. As the housing market continues to struggle, there’s bound to be some good, some bad and some ugly news to report, and that’s just what I have from the latest August Case-Shiller report.

Case-Shiller August 2011
Case-Shiller August 2011

The Good News

* Sixteen of 20 cities tracked showed annual rate of change improvements in August ’11 compared to July ’11.

* Both the 20-City and 10-City composites are 3.8% and 3.9% respectively above their lowest points which were in April ’09 for the 10-City composite and March ’11 for the 20-City composite.

* The Midwest, particularly Chicago, Detroit and Minneapolis, have show the best rebound numbers with each city showing sharp increases since May.

* Detroit continues to be the shining star. Once one of the weakest markets with the worst price declines, as of August ’11, it’s the healthiest when viewed on an annual basis – up 2.7% vs. August ’10.

*  Both the 10 & 20 City composites are up .2% versus July, with 10 out of the total 20 cities tracked showing improvements since July.

Ford Sales Up
Ford Sales Up

The Bad News

*Eighteen of the 20 Metropolitan areas tracked are still down versus year ago August.

* The 10-City composite is down 3.5% vs. year ago and the 20-City composite is down 3.8% versus year ago.

* Average home prices are where they were back in 2003 – which is an improvement, but humbling.

2003 New Year
2003 New Year

The Ugly News

* From the June/July 2006 peak levels, the 10-City composite is still down 30.9% and the 20-City composite is down 30.8%.

* Las Vegas hit a new low in August and is now 59.5% below its August 2006 peak.

Foreclosure
Foreclosure

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

Thanks,

Charlie

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About SteamboatsMyHome.com

Originally from Seattle, Washington, Charlie relocated to Steamboat Springs with his wife Carol and their son, Finn, to become a Steamboat Springs realtor eager to share the joys of Colorado. Charlie is a second generation realtor and is proud to be a member of Steamboat Sotheby's International Realty in Steamboat Springs, Colorado. After graduating from Whitman College in Walla Walla, Washington, Charlie worked in the high-tech industry in Seattle for several years before deciding to follow his father's lead and began his career in real estate. Working for Windermere Real Estate in Seattle, Charlie had a great, innovative career in the highly competitive Seattle market before moving to Steamboat in 2005 and delving deep into Steamboat Springs real estate. At Steamboat Sotheby's International Realty, Charlie has become one of the top agents with his innovative style and tireless perseverance.
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