A recent study by three professors from Colombia and Wichita State Universities has concluded that the housing crisis has been greatly overblown.

“The forclosure House Price Nexus” compared to data from Office of Federal Housing Enterprise Oversight and The Case-Shiller Index.  The study found the Casr-Shiller Index to be a “poor measure of what is happening to the value of most homes.”  Case-Shiller contains no data from 13 states, and offers only partial coverage of 29 others.  It’s also very sensitive to high-priced homes in more expensive markets.

In comparison, they concluded the OFHEO index provided more balanced coverage of large and small markets and each home was weighted equally.  The professors say most Americans have not experienced and major decline in the value of their homes-and aern’t likely to.

Find out if the Case-Shiller index includes homes fromyour state.  Contact a Turf Town Properties Agent to determine how accurate the local market is represented and how it compares to current conditions.