San Diego Housing Market News and Analysis
Low-Priced Home Whackage in February's Case-Shiller Index
Submitted by Rich Toscano on April 26, 2011 - 6:44pm
Home price data that is more timely than the Case-Shiller index has suggested that San Diego prices, on the whole, may be undergoing a bit of a spring thaw. So I don't make too much of the fact that February's Case-Shiller index (which is calculated based on sales that took place in December, January, and February) declined by 1.3 percent in aggregate.
It is interesting, however, that the low-priced tier of the index dropped as much as it did. After weathering the recent fall/winter lull better than the other tiers, the low-priced homes were spanked for 2.7 percent in February. The middle tier was down 1.4 percent and the high tier by .5 percent for the month.
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