June Case-Shiller Report

So, the Case-Shiller report was released first thing Tuesday morning and it appears to have rocked the real estate world!  Just when the rumors started that we were in recovery mode, the report states that "there is no end in sight" and we have experienced the double dip that everyone has been talking about.  The next day came a rebuttle, saying that the information was only good through the end of March and since then there has been an uptick in pricing.  Below is the link so you can decide for yourself.  Don't forget, real etate is a local market, not a national market so only an expert in your area can tell you what sales and prices are really doing.  Long Valley, currently, is running with an inventory level of approximately 9 months.  We are still in a strong buyers market, but it appears that homes are selling - that's the good news.  The not-so-good news is that the prices at which the homes are selling is quite surprising.  My feeling is that we are at least a year away from stabilization and that's about as far as we can see, without a crystal ball, right now.  Read and decide for yourself...
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