The S&P Case/Shiller 20 city YoY report was impressive. Housing is starting to come back as buyers are already clamoring and creating bidding wars in several cities around the country. Parts of Florida and California are seeing significant buying interest as money from South America is trying to get out of their local currency into anything else.
Whatever the reason, the more than 9% gain on a year-over-year basis is impressive. It also tracks last month’s healthy gain.
Now the bad news…. There is still a going way to go (on average) to get values back to the old highs…
(Click to see the big picture)