Tallahassee Real Estate Blog

The S&P Case Shiller Price Index dipped 4.5% for 20 major cities in May 2011 compared with May 2010.  However, the index did rise for the second consecutive month after several months of decline. 

Both Karl Case and Robert Shiller, creators of the index, remains cautious, and even pessimistic about the possibility of a long term rise in prices at this point.  But Case did point to the monthly rise as an important, encouraging sign.

We see much the same story in Tallahassee.  The number of single family homes sold seems to be stabilizing instead of falling.  But prices, while not rapidly dropping, show no sign of normal appreciation.  Sale prices hover right around 2003-2004 levels.