November Home Prices Decline
Posted by Bill Mann on Friday, February 3rd, 2012 at 12:17pm.
Recently released for November, The S&P/Case-Shiller composite index of single-family home prices declined 0.7 percent...slightly larger than the 0.5 percent economist expected. While previous months were trending toward a decelerating decline, November's data broke the trend. Note: Case-Shiller data has a two-month lag.
Average sale prices for Real estate in Rehoboth Beach & the rest of Sussex County substantially declined from October but the median sale price slightly increased. A healthy market would show increases in both the average and the median.
We continue to see substantial buyer activity in the region and barring a major geopolitical event, I foresee an upward trend in single-family prices and a stabilization in condominium prices.
Broker Associate / Owner
Mann & Sons, Inc. REALTORS®
302.542.1696 Cell • 302.227.9477 Office