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16 of 20 Case-Shiller Cities Show Improvement In May

Case-Shiller Index May 2011

Standard & Poors released its May 2011 Case-Shiller Index this week. The index measures change in home prices from month-to-month, and year-to-year, in select U.S. cities.

May’s Case-Shiller Index showed a 1 percent increase from April 2011. Home values rose in 16 of the Case-Shiller Index’s 20 tracked markets. Only Detroit, Las Vegas and Tampa fell. Phoenix was flat.

Don’t look too far into the findings, though. Like the FHFA’s Home Price Index, the Case-Shiller Index is rife with flaws.

The first flaw of the Case-Shiller Index is its limited geography. Despite being positioned as a national housing index, Case-Schiller Index is sourced from just 20 cities nationwide. There are more than 3,100 municipalities nationwide.

The Case Shiller Index’s second flaw is that it ignores all home types excepts for single-family, detached homes in its findings. Condominiums, multi-family homes, and new construction are not included in the Case-Shiller Index.

In some markets, these excluded home types outnumber the included ones.

Furthermore, the Case-Shiller Index is flawed in that it takes 60 days to release.

The Case-Schiller Index reports on a housing market from 2 months ago — hardly helpful for today’s buyers and sellers in North Padre Island , trying to make sense of today’s real estate market data. 

When you want real-time housing market data, therefore, for Beachwalk or anywhere else, look past the Case-Shiller Index and talk to a real estate professional instead. It’s where you’ll get your best, most relevant information.

Posted in: Housing Analysis Tagged: Case-Shiller Index,FHFA

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Julie Woodward, Broker/Associate

Address: 1900 State Highway 361
Port Aransas, TX 78373-4894
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Hot Port Aransas Real Estate

This charming home was recently featured in the Caller Times home section! Spacious and inviting 4 bed, 4.5 bath home in Island Park Estates, a beachfront community with a pool and beach cart accessible dune crossover. "Are We There Yet" is a completely renovated beach house beautifully furnished with a coastal flair. Large open kitchen, dining, living and wet bar with views out every window. Huge covered deck to enjoy the views plus a covered porch for alfresco dining, grilling and relaxing. Third floor master has a private deck with spectacular Gulf views and remodeled bath with ceramic shiplap planked walk in shower and quartz countertops. Luxury vinyl plank flooring throughout and new exterior Duxxbak decking system. Ground floor has 2 beds & baths with a second spacious living area ideal for kids and cart garage. Lots of natural light throughout the home with many outdoor options for views and relaxation. A popular rental it sleeps 18. Excellent investment opportunity! Wow! $995,000 Active

109 Frontside Dr Port Aransas, Texas

4 Beds 4.5 Baths 3,509 Sq Ft

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