How are housing prices really doing
All the headlines are dire. Case-Shiller gets big press every month as their statistics show home prices plummeting. But what would National housing prices look like if California, Florida, Nevada and Arizona were omitted from the data. After all, real estate is local and Charleston real estate and Charleston home prices don't have very much in common with LA and San Diego, Miami or Tampa.
The middle map shows 4 quarters of home price changes from OFHEO by state and just above is an interesting map and you can click here for more data from First American Core Logic, a leader in residential mortgage data and analytics for the mortgage industry and Wall Street.
And I don't think that the overall National housing market is quite as bad as the media would have you believe. Having said that, don't misunderstand, there are challenges and difficulties ahead but the Charleston real estate market and Charleston home prices continue to be much stronger than much of the country.