The S&P/Case Shiller composite index of 20 metropolitan cities is out and the numbers are not good. Home prices have fallen even more, this time to lows not seen since 2006.  In Cleveland home prices are down 1.8% from February to March.  These numbers are due to high amounts of foreclosures and less demand.  David Blitzer, chairman of the index committee at S&P Indices says “Home prices continue on their downward spiral with no relief in sight.”  The S&P/Case Shiller  index has been down for 30 straight months.

Do the lower home prices make you more or less likely to buy a  new home?  Are they an incentive to get a great deal, or do they make you nervous that the market is still going to get worse?

If you would like to get started buying or selling your Shaker Heights, Pepper Pike, Solon, Cleveland Heights or Chagrin Falls home please contact Ellen Weiner at 216-789-9368 or email Ellen@NoPlacelikeCleveland.com

Advertisement