First Time Home Buyers
According to the most recent Case-Shiller Index from S&P, home values rose 5 percent in June versus the prior month. This also puts us up 4% from a year ago. This now marks 16 months in a row in which the index has shown an increase in home values and marks a third consecutive month of very strong results.
There are drawbacks to any of these “national home value” figures and Case-Shiller is no exception. For starters, the “news” is about June’s results and the last 60 days have been lukewarm at best. We’ve seen a dip in Existing Home Sales, New Home Sales, and builder confidence is extremely low.
Still, the index does have its place. It is the most widely-followed, widely-used, private-sector housing tracker. It influences policy decisions and gives Wall Street insight on the economy. Things aren’t perfect, but they’re better. That’s a really good start.
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