In late March CNN Money magazine and Fortune magazine argued that housing was the best investment asset currently available in the United States. This was on a national basis and not focused on individual markets. Real Estate is like the weather, very local and not easily discussed on a national basis. More recently the closely watched Case Schiller index showed that 13 of the 20 large metropolitan housing areas increased in value, the first time the index showed improvement in 8 months. Does this mean we have turned the corner in Carmel? It depends.
Units of sale have shown considerable improvement for the first seven months as compared to 2009 and 2010. July 31 YTD sales respectively were 77 in 2009, 94 in 2010 and 100 in 2011. Carmel 2009 Sales Thru July 31. Carmel 2010 Sales Thru July 31. Carmel 2011 Sales Thru July 31 With the improved real estate markets and economy in Northern California, we can expect to see this improving trend continue this year and into 2012.