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Husband, father, inline skater, cycling and triathlon athlete and sometimes coach, graduate civil engineer, commercial and residential and commercial Broker Realtor® working in Ellum, Expo Park, Munger, Peak Suburban, PD 98, PD 269, Swiss Avenue, Baylor PD, all of in-town east Dallas, former home building land acquisitions executive, home builder, home designer (chief architect X3 design solutions), LEED Green Associate (GA), NAHB Green Professional (CGP), NAHB Graduate Builder (CGB), Universal Design and Accessability student and Certified Aging in Place Specialist (CAPS), Advanced Historic Home Specialist certified by Preservation Dallas..........EdgyDad is Biff Bailey of Dallas, Texas

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March Case Shiller Home Price Index for Dallas

March Case Shiller Price Index 4 Dallas falls vs Feb11, well below Mar10. See the charts for Dallas #p #in

Last Update: 2011-06-10 12:58:48

Don't shoot the messenger. I've been cautiously optimistic home prices are forming a bottom. I still am, prices still could be forming a bottom, but Standard and Poor's Case Shiller data for March, 2011 make me less certain. On the upside, prices are still above the lows set in late 2008 and fall 2010. On the downside the March data is a reversal of the unadjusted trend and acceleration of the fall in the adjusted price index.

Is it as bad for Dallas as Standard and Poor's David Blitzer says (as quoted by DMN's Steve Brown): “There has been no recovery or even stabilization in home prices during or after the recent recession,” he said. “Home prices continue on their downward spiral with no relief in sight.” Maybe not. Dallas' index is still above 2008 lows.

I follow east Dallas MLS sales data. Click here to see that article. Monthly sales for May were the lowest May total in 5 years. Every month in 2011 has been the same except one. YTD east Dallas sales are down 16% and listings are UP 7%.

Where did all the buyers go? Some of them don't have jobs or earn less, sometimes a lot less, than they did in 2008. Some are struggling to hang onto the home they own. Some are trapped in negative equity. Some can't come up with a real down payment. Some can't get financing because of credit scoring. Some fear further declines in prices. And, some, more and more these days, just don't want to own homes.

Whatever, the "buyers market" is on a real roll right now.

Here is a chart of the unadjusted price index for Dallas:

chart of case shiller unadjusted home price index for dallas

Here is a chart of the adjusted price index for Dallas:

chart of case shiller adjust home price index for dallas

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