S&P/Case Shiller Index Rises for First Time in 20 Years
What does the index rise mean for real estate?
This week marked the release of the latest S&P/Case Shiller Price Index Report. For the first time in 20 years, there was an overall 0.5% increase in the index, possibly indicating that the real estate market on a whole is seeing signs of recovery.
“This is much more important than an up day on the stock market. It may mean that we may have changed direction,” Robert Shiller, a co-developer of the Case Shiller index told Reuters Television.
It is “a pretty significant indicator that we might be at or near a bottom,” said index co-developer economist Karl Case of the self named index.
Many of InvestorLoft’s active markets are listed in the recent report. Here’s a rundown of key metropolitan areas that our member may find of interest:
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August 16th, 2009 at 10:50 am
Nice to see a step in the right direction!