New York’s S&P/Case-Shiller Home Price Indices Show a Mixed Bag of Results

Throughout my assessment of the current real estate market, I like some diversity in the analysis of data. Today’s blog will focus on information out of New York via Standard & Poor’s/Case-Shiller Home Price Indices. This index provides both seasonally adjusted and non-seasonally adjusted data that helps track the path of single family homes in 20 large metropolitan areas across the country. Most analysis requires a time lag to post and interpret the data. The figures we are viewing are from November of 2009. With S&P/C-SHP Index we can look at individual metro areas or view the index from a 10-city or a 20-city composite to assess trends in home pricing. The good news is that most markets are showing improvement. Home prices are off their peak, but the rate of decline has slowed. Some of the country’s best markets are entering positive territory for the first time in 2 years like; Dallas, Denver, San Diego, and San Francisco. On the flip side, markets in; Las Vegas, Charlotte, Seattle, and Tampa are putting in lower prices that may establish the bottom for higher values in the future.

February Index Results

All this information is interesting, but each of us must utilize it in some way that benefits our lives. For some, the figures show that extreme bubble-inflated real estate markets are still searching for a bottom. There also seems to be a trend that; upbeat, fun, climatically-favorable markets are among the first real estate markets to recover. For those of you considering the Great Smoky Mountains, as a place for real estate purchase or sale, this current data supports us. While this area of East Tennessee saw growth at the peak, we were not unrealistic like other markets. Our area is like many of the markets that are first to recover. The Smokies has a great location, we have fun amenities available, and our climate and scenery are beautiful. We are a top location for the eastern half of the nation. Contact the Jason White Team today, to secure your personal slice of paradise for; a primary residence, a vacation home, or an investment property.

Now is a great time to view vacant land!!  Here are a few of my outstanding current listings nestled in the upscale neighborhood of Riversong:

Private-Close to Gatlinburg/Pigeon Forge
This private upscale subdivision has a common access to boulder strewn river for swimming and fishing. This lot can be built on the downside allowing for sloping drive.
Type: Land
Location: Sevierville,TN
Price: $54,900
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Upscale Neighborhood-Close to Smoky Mtns
This property is convenient to Gatlinburg, Pigeon Forge and Sevierville but in a private, serene, wooded, upscale, subdivision which offers common access to the river for swimming and fishing.
Type: Land
Location: Sevierville,TN
Price: $64,900
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One Mile to Great Smoky Nat’l Park!
This private lot is gently rolling, mountainous and wooded. Located in the upscale subdivision of Riversong which offers common access to the river for swimming or fishing and is centrally located for convenience.
Type: Land
Location: Sevierville,TN
Price: $64,900
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Exclusive Home Site w/Mountain View
This level road access property offers a exclusive home site in a private, serene, wooded environment with mountain view.
Type: Land
Location: Sevierville,TN
Price: $54,900
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Two Mtn Lots/ Serene/Wooded /Sevierville
Two lots combined in subdivision to make one fantastic private lot with no close neighbors and common area access to the river for swimming and fishing.
Type: Land
Location: Sevierville,TN
Price: $74,900
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