The latest Case-Shiller results are in and they show broad increases in prices in nearly all the markets they track but with slower sales. It's the first really good news in a long time but the report leaves out massive details. There's a lot of undercover good news that's not contained in that report that I hope people will see.
If you read my articles I'm not a big fan of the Case-Shiller Index. It has a lot of flaws, including the fact that it leaves out so much data on major metro areas and paints a very incomplete picture. The San Francisco Bay Area is a good example. The index does not include Silicon Valley, one of the strongest markets in the country. So, while Case-Shiller shows that the San Francisco Bay Area is doing well, there's even more good news - the south bay market, especially Silicon Valley, is doing great! Several towns including Los Altos, Mountain View, Cupertino, Palo Alto, and others are all up several percentage points so far this year. How about other markets?
Generally, if a major metro area is doing well, the suburbs and high-end markets around it are doing as well or better. That's not always the case but in my analysis of Case-Shiller results compared to local market reports from individual agents, there's a gap. So, if Case-Shiller is up, the other real estate markets are probably also doing well. What does this mean? Several things:
- Sub-markets are probably doing better than Case-Shiller indicates
- Real year-over-year gains are likely better and broader than is shown
- There's more good news than we're hearing about
Take a closer look at the local market and get an in-depth view of how well things are really doing. My market reports always show the "behind the scenes" view of what's happening with the numbers. You'll find our market, like many others, is doing very well.
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Bryan Robertson, CEO | T: 650.799.9951 | Email: firstname.lastname@example.org | Website: http://www.BryanRobertsonHomes.com |CA BRE# 01191946 | Catarra Real Estate, Inc | 171 Main St #220 | Los Altos, CA 94022