The local Case-Shiller index ended its three-month skid in November, rising 0.29% above October’s mark. It will probably bounce around a bit from now on.
The San Diego Case-Shiller Index is 24% higher than it was in Nov. 2012.
Minor movements would seem to be much preferred to the violent ups and downs of previous years, but David Blitzer isn’t happy enough. Either that, or he is struggling with his hyperboles:
The S&P/Case Shiller composite index of 20 metropolitan areas gained 4.3 percent in November from the prior year, the slowest since October 2007 although it matched analyst expectations. This compared with a 4.5 percent annual increase in October.
“With the spring home buying season, and spring training, still a month or two away, the housing recovery is barely on first base,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement.
“Prospects for a home run in 2015 aren’t good,” he added.