Standard and Poors released the Case Schiller report on home prices. U.S. National Home Price Index fell 3.2% in the first quarter of 2010, but remains above its year-earlier level. In March, 13 of the 20 markets covered by S&P/Case-Shiller Home Price Indices and both monthly
composites were down although the two composites and 10 markets showed year-over-year gains. Nationally home prices rebounded from crisis lows, but recently have seen renewed weakness as tax incentives are ending and foreclosures are climbing.
The Charlotte market index fell 1.1% from March to April. As with the most of the market Case Schiller reports did show improvement on an annual basis.
The Case Schiller report states “While year-over-year results for the National Composite, 18 of the 20 markets and the two Composites
improved, the most recent monthly data are not as encouraging. It is especially disappointing that the
improvement we saw in sales and starts in March did not find its way to home prices. Now that the tax
incentive ended on April 30th, we don’t expect to see a boost in relative demand.”
To read the complete report visit the Case Schiller website.
My wife Karen and I received your letter stating you would appreciate feedback on our recent experience with Helen Adams Realty and specifically Dot Munson who was our selling agent.
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