Price Index Says San Francisco Is Okay

The Case-Shiller index of metropolitan home prices has come out again. Although there are many interpretations for the numbers, many said more or less the same things. The results showed that major media outlets differed in their initial read on October’s numbers. “Prices rose for the fifth month in a row,” according to Bloomberg, “home-price declines slowed in October” according to the Wall Street Journal, “some disquieting signs of deterioration” underneath the “modest” rise in home prices, according to the New York Times, and we heard a “winter chill, but not housing doom,” according to the Dow Jones Newswire.

Without a seasonal adaptation, they say the numbers flatten out the simple rise, pointing to another possible slowdown in housing. Compared to October of last year, the index is down 7.3%, but the San Francisco area posted a 1.7% gain over the previous month, and a 25% gain over the previous year. Phew!

Via: Curbed SF