Home Values – Have We Hit Bottom Yet?
Mortgage Insider » Real Estate » Home Values – Have We Hit Bottom Yet?
Home values are the biggest indicator as to when we can say the foreclosure crisis and mortgage crunch will soon be over. Once home values stabilize lenders, investors, and home owners can all breathe a collective sigh of relief…and that day may soon be here!
The Case-Shiller Home Price Index of home values can show us some interesting trends and one has emerged in the April 2008 data. I did a quick 5 minute video on this trend. Only time will tell if the worst is over for home values, but what you’ll see in the video is interesting at the very least.
Since Case-Shiller Home Price Index is a 3 month average on a 2 month lag, we are always sitting today different than the data. Keep that in mind as you watch the video.
Click the Play Button in the Middle of The Screen
[flashvideo filename=videos/casesillerjuly11.flv image=videos/cashsillerjuly11_nofp_bg.gif autostart="false" width="498" height="600" /]
Please post any comments or suggestions below if you found this useful.
Good Luck!
Author: The Mortgage Insider
Date: July 9, 2008
Tags by Post Case-Shiller Home Price Index, Foreclosure Crisis, Home Values, Mortgage Crunch
Technorati Case-Shiller Home Price Index, Foreclosure Crisis, Home Values, Mortgage Crunch
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Alex,
I thought so too..but if you look at the video again you’ll see in the other cities back in 2007 March to April went down in many or was flat.
So when the market is down like SF or Phoenix…”seasonality” didn’t save the market.
I think “seasonality” is a function of a ‘working’ market…a responsive market if you will. In a market still in the throws of the crisis…it has no effect. So even if you are right, it’s still a good thing because it shows that market “acting normal”.
What do you think?
Time will tell…thanks for stopping by..
RKB
No, the worst is not OVER! this is seasonality, Rob. You can see the same “trends” in April – August 2006, 2007 data.
THe numbers go up for those months and then drops significantly to larger lows come september, oct.
Thoughts?