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Sep
01

Las Vegas Homes Prices Decline; Case-Shiller Home Price Indices Increase in other Tracked Cities

By LasVegasShortSales

Case-Shiller Change In Home Values May-June 2010

According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier.  It’s the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results.

Prices in Las Vegas are off 56.5% from the peak.

That said, homeowners and home buyers in Las Vegas would do well to temper Case-Shiller enthusiasm. The June figures are issued on 60-day delay and, over the last 60 days, housing data has been lackluster at best.

Stories like these highlight a key weakness of the Case-Shiller Index — it’s out of date as soon as it’s published. Because of this, the Case-Shiller Index relevance to everyday Americans is muted. People don’t buy homes in the “60 days ago” real estate market, after all.

June is ancient real estate history to buyers and sellers in Las Vegas, Henderson and Green Valley.

However, the Case-Shiller Index does have its place. As the most widely-followed, private-sector housing tracker, the index is used to help make policy decisions and to shape Wall Street’s expectations of the economy. This means that a strong Case-Shiller reading can cause mortgage rates to rise, and a weak Case-Shiller reading can cause rates to fall.

Tuesday, mortgage rates fell.

Now is a great time to buy Las Vegas Homes!

Search all Las Vegas Foreclosures, including Henderson, Green Valley and North Las Vegas.

Kathryn is experienced with the often lengthy and stressful Las Vegas short sale process.   If you are contemplating a  Las Vegas short sale , she can assist and navigate you through the entire process. Call Kathryn direct at 702-348-7191 to schedule a short sale consultation today.

Related posts:

  1. Case-Shiller Shows Home Price Improvement In 95% Of Cities
  2. Las Vegas Homes Prices: a Historical Perspective from January 2005 to June 2010
  3. Nationwide Home Values Within 12.5 Percent Of April 2007 Peak…Not Case for Las Vegas

Categories : Las Vegas Market

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