BIG Spike in Month-Over-Month Home Value

The Case Shiller Value Index report for April was released today. Single Family Home value in South Florida shot up 2.41% between March and April.  The last time we saw an increase at this level was September 2005.  Savvy readers will recall that September 2005 was the peak of the boom that preceded the now-legendary bust in real estate and most of the rest of the economy.  I'm a bit wary of the numbers but not overly concerned yet since the toxic outside cause of the mid-decade boom (securitized mortgages) is not present this time.  So let's enjoy the recovery, make purchases quickly to take advantage of still-low mortgage interest rates....and tune in next month.