More Good News on the Housing Market

The August 2012 Case Shiller report has more good news, though not for the New York City metro area. The national seasonally adjusted 20 city index rose .5% over July and 2.0% over August 2011. That’s five months of consecutive improvement. However the New York metro area was a 0% gain over July on the seasonally adjusted index. The non adjusted index, which we use for our chart, showed a 0.7% gain. Year over year, NY was down -2.3% on the seasonally adjusted index. Still the overall trend seems to be upward.