The Case Shiller Home Price
Index shows slowing appreciation across the country. On a year-over-year basis,
prices are up 13.4% through the end of 2013. (SA on the chart stands for seasonally adjusted and
NSA stands for non
seasonally adjusted) where most sales–and consequently
pricing variations–transpire during the summer months. David Blintzer,
chairman of the S&P DOW Index Committee concurs: “Gains are slowing
from month to month and the strongest part of the recovery in home values may
be over”. I take this with a grain of salt. Everyone likes to
speculate to appease their own self interest, much in the way that the chair of
NAR might say that stocks are overpriced (that’s just my take on the Blintzer’s
commentary, Steve Brown has not actually depreciated the future of buying
equities). Given that interest rates have come up about a percent in
the last year, as well as the massive slump in home prices, I think that
it’s only natural that housing values are not continuing at a
break-neck pace, and promotes a healthier, more stable future for us all.
