The national media reported on 5/31 that “Housing in double dip as prices fall again”. This was headline in Market Watch and reposted on by CNN Money, The Wall Street Journal, Fox News and I’m sure others. The basis for these report was the Case Shiller Report for the period ending March 31st. that reported 1Q 2011 was down 5.1% from 1Q 2010, prices are down 32.7 from 2006 peak and down for 8th month in a row. This dismal performance was after reporting median price increases for about 12 months. Thus, the double dip.
I am happy to report that although prices fell 5.1% nationally, prices in Westport increased 8.4% and prices in surrounding towns increased 1.7% for same period.
And, although prices declined 32.7% nationally from the peak in 2006, Westport prices declined 30.5% and prices in surrounding towns declined 18%.
You can see the details of the Case Shiller Report at the following link.
Regards,
Steve Reilly, Realtor
Higgins Group
Best Practice Real Estate
203-246-7372
Swreilly.com
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