Case Shiller

Case Shiller Index Shows Home Prices Rise in September

The Case Shiller composite index, a closely watched indicator of home price trends, showed U.S. single-family home prices rise was stronger-than-expected, year over year, in September. However, the pace of the increase slowed compared to August.

US Housing Market RiseDavid M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, stated “The overall trend in home price increases continues to slow down.”  The team at DiSalvo and company Certified Public Accountants  tends to believe that any home price increase is a good home price increase.
The S&P/Case Shiller composite index of 20 metropolitan areas gained 4.9 percent in September over September 2013.  In August, it rose 5.6 percent year over year. A Reuters poll of economists forecast a 4.6 percent increase.

On a seasonally adjusted monthly basis, prices in the 20 cities rose 0.3 percent in September. A Reuters poll of economists had forecast an increase of 0.1 percent.

The prospects for an increase in sales as well as sales prices in Florida brighten as the show belt braces for another cold and snowy winter.  Some areas like Buffalo,  NY have seen nearly a years worth of show already and it is only November!  The ice, wind and snow may be making life miserable for northern New Yorkers and Mid-westerners, but at the same time it sets the stage for a motivated set of potential home buyers heading our way.

As goes the real estate market, so goes many other industries such as floor covering, window treatments, appliances, landscaping, and of course your neighborhood tradesmen.    As we saw several years ago when the real estate market slowed abruptly, the ripple effect had far reaching effects on industries such as recreational vehicles,  that one might not have predicted.  That being the case, rising real estate values may just make homeowners feel more confident to spend money on the products and services you offer.

This information is brought to you by DiSalvo & Co. Certified Public Accountant, with offices in Vero Beach, Titusville, and Melbourne, FLDiSalvo & Company offers  accounting services,  Quick-books training, tax planning and tax preparation for individuals and businesses throughout Indian River County.

Please give Pete DiSalvo a call for a free consultation to discuss your accounting needs.

Melbourne - Titusville - VeroBeach - Certified Public Accountant



August Home Prices up 1.3% from July

According to a report in USA Today:   Gains in home prices  likely peaked in April and have been slowing but are still strong as low inventory drives prices and buying remains cheaper than renting.

The article goes on to say: “U.S. home prices were up 1.3% in August from July , but the peak rate of gain in home prices occurred in April, a widely watched index shows. Data through August shows that prices were up 12.8% year over year, shows the Standard & Poor’s Case-Shiller 20-city index.

Both the 10 and 20-city indices showed their highest annual increases since February 2006, and all 20 cities reported positive year-over-year returns.

But while home prices continue to rise, it’s at a slower pace each month since April, the data shows. In August, 16 cities reported smaller gains compared to July.”

August Home Prices up 1.3% from July

Read the entire USA Today article here.

Melbourne - Titusville - VeroBeach - CPA-Icon