More Good News--Sort of:
Well, time for the monthly Case-Shiller Index of home sales. This one showed the first increase on a YEAR TO YEAR basis in three years--definitely an encouraging sign. However, it was muted by two things: 1.) the numbers didn't increase as much as analysts had predicted; and 2.) a number of the twenty metropolitan areas in the survey actually showed drops from the year earlier figures. The conflicting facts show that a recovery appears under way, but that so far it is still fragile.
Locally, the area with the highest increase was the SF Bay area by far. Definitely good news here.