The November 2011 Case-Shiller Index was released today.

Here is the San Diego seasonally-adjusted CSI, compared to two other indicators:

Month No. of SD Detached Sales Average $/sf SD Case-Shiller SA
Nov. 2010
Oct. 2011
Nov. 2011
Y-O-Y Chg.

It looks encouraging to me. Both of the markers on pricing are acceptable, rates are at all-time lows, and the leading indicator, number of sales, is on the rise.

But the negative soundbites will discourage consumer confidence, thwarting any euphoria building among homebuyers – who, as a result, will be reluctant to pay more than the comps. Sellers who can live with a reasonable price will have no trouble finding a buyer during the next few months.

Case-Shiller HPI: San Diego, CA  Chart

Case-Shiller HPI: San Diego, CA Chart by YCharts

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