Case Shiller doesn’t track the Charlottesville real estate market. Nor Albemarle, Greene, Fluvanna, Nelson, Waynesboro, Augusta â€¦ Case Schiller doesn’t track Charlottesville.
I wrote in early 2008 that The Charlottesville/Central Virginia/Shenandoah Valley markets are not covered by the Case-Shiller index. Real estate is local; while trends may be drawn from this type of research, and while the proverbial turned-corner may still be just over the horizon, itâ€™s important to put his study in the appropriate context.
Crap. That “horizon” to which I referred is still a ways off. But â€¦ what I said remains true. Case Schiller doesn’t track our market.