Tag Archives: Debbie Ingram
Even this FSBO has a contract on it!
You know I am not a huge fan Standard & Poors/Case-Shiller Home Price Index. Why? you ask? I’m sure they are very nice people, but their data is old and does not take into account new construction. By old data, I mean that what they are reporting today, this news that has us all giddy, is coming from transactions that were conceived in 2012, like November and December. It takes time to buy a home. A transaction begun last November may be closed in January or February. And Case-Shiller does not take into account new home sales. So like the 6,000 units that Mehrdad Moaydi has vertical, the vast developments booming like Phillips Creek Ranch and Craig Ranch up north of us, all those new home sales are not counted. No condos, either. Case-Shiller only counts residential re-sales.
What I’m saying is that when Case-Shiller is positive, it’s not just good news, it’s UBER great news! And today, Case-Shiller was as positive as I have seen in eons.