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Case-Shiller . . . Read it and weap

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Elliott

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Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
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Oregon
Note the source of the data!

Home Prices, by Metro Area
Metro Area August 2008/ Change from July / Year-over-year change
Atlanta 124.82 -0.2% -8.5%
Boston 162.75 0.1% -4.7%
Charlotte 132.10 -0.8% -2.8%
Chicago 149.53 0.0% -9.8%
Cleveland 110.54 1.1% -6.6%
Dallas 122.90 -0.2% -2.7%
Denver 132.64 0.0% -5.1%
Detroit 92.44 -0.8% -17.2%
Las Vegas 150.52 -2.4% -30.6%
Los Angeles 189.18 -1.8% -26.7%
Miami 183.48 -1.8% -28.1%
Minneapolis 141.94 1.0% -13.8%
New York 192.84 -0.2% -6.9%
Phoenix 144.83 -2.9% -30.7%
Portland 171.93 -1.3% -7.6%
San Diego 168.23 -2.3% -25.8%
San Francisco 151.42 -3.5% -27.3%
Seattle 175.24 -0.7% -8.8%
Tampa 174.30 -0.4% -18.1%
Washington 194.86 -0.3% -15.4%
Source: Standard & Poor’s and FiservData
 

VolcanoLvr

Senior Member
Joined
Oct 30, 2003
Professional Status
Certified Residential Appraiser
State
Washington
Remember that these statistics are overall averages for the ENTIRE market area and for all types of housing, unless otherwise specified.

The numbers more than likely do not apply to a specific property assignment in a specific location within the entire market.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
CS exaggerated the increase in values and now exaggerates the decrease due to their emphasis on markets in the west and Florida. Three years ago their data was dominated by flip sales. Now their data is dominated with unflippable foreclosures that have been sitting empty for three years.
 
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Elliott

Thread Starter
Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Bama said, Now their data is dominated with unflippable foreclosures that have been sitting empty for three years.

What? Fiserv doesn't understand what market value is? Tell me it isn't true.
 
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