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April Case-Shiller HPI

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12 Comments

  1. Anonymous
    July 2, 2007 @ 12:54 PM

    So in essense, what this
    So in essense, what this seems to confirm is that the highend real estate continues to move but the bottom end has fallen out?

    Is that about right?

    • no_such_reality
      July 2, 2007 @ 2:02 PM

      No, it confirms the high-end
      No, it confirms the high-end is moving by lowering their price and the bottom has fallen out.

  2. Anonymous
    July 3, 2007 @ 5:17 AM

    Michelle Steffes
    So, how
    Michelle Steffes

    So, how long before we can all afford a house in San Diego?

    • FormerSanDiegan
      July 3, 2007 @ 8:58 AM

      So, how long before we can
      So, how long before we can all afford a house in San Diego?

      All ?

      That’s easy: Never.

      • cr
        July 3, 2007 @ 10:54 AM

        It likely means all the
        It likely means all the activity is at the higher end of the market, and/or that the lower end is nearly stagnate.

        I’m a firm believer in the psychological effects. The average consumer probably still thinks it’s an okay time to buy a house, but is starting to lose confidence. That will only erode further as the other measures of price catch up with the what is seen in the CSI.

        As people start to notice prices drops, sales will slow more and prices will follow. In 5 years people will think it’s crazy to buy a house.

      • pencilneck
        July 3, 2007 @ 11:34 AM

        I find it interesting that
        I find it interesting that asking prices are declining nearly as fast as the Case-Shiller index indicates sale prices are:

        Trend 1 month 3 month 6 month 12 month
        Median Price -0.8% -2.0% -2.8% -6.7%

        http://www.housingtracker.net/

        I would have guessed that asking prices would remain a little more sticky than the actual sale prices.

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