Ignore This: Case Shiller Index Shows Prices Dropping Again

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Buyer, Seller, Real Estate News

The S&P/Case Shiller index should be ignored.

The reasons are as followed:

  1. Jacksonville is not included in the index.  As everybody knows, the local market matters most.
  2. While they happily point out items such as 11 of 20 of the markets watched have dropped they neglect to say that 9 of 20 have not, or may of even increased.
  3. No interpretation of the actual meaning of the price drops.  If prices are truly so low sales will start pick up and the bottom will be found.  This can be seen in California's current sales volume which is an amazing turn around from last year.

Date: Wednesday, January, 28th 2009 @ 10:11:00 AM
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