In the past, I’ve written about the “collective subconscious” of the real estate market. There’s starting to be more and more good news out there that maybe we’ve actually bottomed out, and that prices will stabilize and homes may actually start appreciating again. A novel thought. I don’t think that we’ve seen the uptick yet in the Truckee Real Estate market, but good news has a way of being contagious.
This week the S&P/Case Shiller Price Index was published for data through February 2010. This is considered the leading indicator of home prices in the US and shows that for the first time since 2006, the annual rates of change for the indices is up. The ten city composite increased nearly 1 and half percent from where it was in February of 2009.
Here’s the graph:
Next week I will have finalized the 1st quarter graph for 2010 for the Truckee Real Estate sold market.
