S&P/Case-Shiller Home Price Indices – Where is goes … nobody knows?
Recently we have said to several clients that our pricing crystal ball is broken. In very specific areas and under specific circumstances, it is possible to be a little more accurate. This period of unusually uncertainty continues. Here are the Case-Shiller Home Price Index for Atlanta and the 20-City Composite Index. For Atlanta, July dipped just below May 2010’s 108.28 reading.
Where do you think prices will go? Which areas of Atlanta do you think we will see the greatest jumps? Why? Leave us a comment below!
Click for a better view: Case Shiller Index
| GA-Atlanta | Composite-20 | |
| January 2010 | 108.45 | 146.20 |
| February 2010 | 107.72 | 146.04 |
| March 2010 | 106.21 | 145.74 |
| April 2010 | 107.50 | 146.65 |
| May 2010 | 108.51 | 147.39 |
| June 2010 | 109.12 | 147.74 |
| July 2010 | 108.28 | 147.55 |
| August | ?? | ?? |
| September | ?? | ?? |
| October | ?? | ?? |
I have had someone say to me the market would still go down another 5% before year end and another expect to see price recovery by spring if elections go towards their party. Well I am pretty sure in the middle is probably the truth. I think Buckhead is probably having a recovery and that we are up about 4% in price over last year. We always have a soft finish, spring should be stable.
The two great influencers of pricing are fear and greed. People are uncertain whether to be fearful of the future or greedy of great deal. I think urban areas will show more pricing stability. I think giant energy monster housing will soon be passé.
I agree George that energy monster housing will soon be passe. I think an area that will see more pricing stability will be green housing.
The long term issue is jobs. Will Atlanta maintain its position as the preeminent center of the South and continue to attract major employers? Transportation, natural resources, schools, and political fragmentation are among the challenges that we face. Given Atlanta’s historic ability to marshal community energy to solve problems, we remain a good bet, but the most likely scenario seems to be an era of steady if unspectacular growth.