into Summer: Housing Prices Heat Up Vancouver WA Home
When I update Vancouver WA readers
about the latest news in housing prices, it’s usually not as ‘latest’ as I’d
like. The reason is that there is a delay in most of the truly reliable indexes
that measure housing prices. The big indexes are national (Vancouver WA prices are another matter), and they
have a built-in two-month delay.
We can look at trends and directions, but if there is
a change afoot, we won’t be sure of that for about 60 days.
Wall Street Journal found a way to present unusually fresh numbers.
Reporter Nick Timiraos ignored the S&P/Case-Shiller Index, which reported
statistics from back in March, and leapfrogged into April with the first solid
news about our much-anticipated spring selling season.
It shows a startling 2.7% one-month increase: the
largest March-to-April gain in any of the 17 years since the series was first
“The monthly gain blew away all past Aprils,” said an
economist at Credit Suisse. The basis of the reports comes from the release of the Bureau of Labor
Statistics’ producer-price index, which measures prices in the whole economy
(at least as seen by manufacturers and wholesalers). It’s a backdoor way to
gauge housing prices when you examine prices received by real estate agents.
The numbers showed a 9.1% gain over housing prices
from a year ago…and remember, big price rises were already happening by then.
The takeaway, per the Journal, “Don’t be surprised to see continued
increases in prices and sales in the next batch of housing reports.”
Professors Case and Shiller are certainly standing by
to give us those. And in case you would like a more locally focused update on
our Vancouver WA housing prices, I’m standing
by, too — why not give me a call today?
Author:Julie Baldino - Owner-Managing Broker Phone: 360-910-3586 Dated: May 26th 2013 Views: 1,582 About Julie Baldino: Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consisten...
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