It happens on the last Tuesday of every month – data regarding the prices of homes all over the country is gathered, plotted on a chart, and then released to the public. The information, which always applies to the state of the real estate market two months ago, is referred to as the “Case-Shiller Index”.
The news for California? Probably not surprising. Prices are down all over, from L.A. to San Francisco to San Diego. Nothing dramatic, but a steady decline.
Most of California is actually doing better than the country as a whole, which saw a decline in prices of almost 2%.
While all this may be bad news for investors, home-flippers, and agents, it’s awfully good news for the average buyer with cash on hand. Get shopping while the getting’s good.