April 12th, 2011
Econintersect: Altos Research March 2011 10-City Home Price Composite decreased by 0.29%. According to Altos:
....... prices are still struggling across much of the country, week over week increases are posting and are expected pick up steam in the weeks ahead. Increases of note were marked in San Jose (1.14%), Phoenix (1.04%), and Boston (0.81%). The real story, however, is increase in inventory. Anxious sellers are entering the market, hoping to take advantage of increased buyer urgency, with inventory rising most in Boston (15.99%), New York (8.24%), and Philadelphia (7.68%). Follow up:
Altos says home price dynamics are expected to improve at the time of year, inventory is steadily on the rise, with sellers hoping to tap into a deeper pool of home buyers.
Altos Research is the first to report March 2011 home price indexes. Econintersect will review and compare all indexes released to date when Case-Shiller releases its data later this month.