S&P/Case Shiller Price Index
Originally published in the forum. I am placing it here since it has an explanation as to why Houston is not in this index
The index was released last week, and you can read it here. It does have a bright spot (if you are looking for something to be happy about in real estate), and that is a report the the downward trend in home prices is slowing.
Should we be looking for a bright spot? Realtor.com reported not too long ago that searches for homes in high foreclosure areas has greatly increased. We could have investors sweeping in to buy homes to turn into rental properties, and there is also an influx of foreign buyers looking for vacation homes at affordable prices. All of this is not bad though, since most will maintain these homes. However, the middle class family may not be owning their home, which I think is a shame. Investors have the right to their efforts, and they are providing a service, but I like the idea of a family owning a home.
If you are looking for information specifically on Houston from this index, you will not find it. As mentioned on a separate forum topic. Standard & Poors does not report on Houston (some issue with not obtaining data from the Realtor Association here). They do report on Dallas. Your best bet is to look for press releases from HAR.com. They go over that data once a month.
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