Case Shiller: Housing Prices Have Not Turned

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With the latest Case Shiller data out, look for the usual confusion between annual seasonal improvements and the regular


“Home Price Indices data through March 2012 showed that all three headline composites ended the first quarter of 2012 at new post-crisis lows. The national composite fell by 2.0% in the first quarter of 2012 and was down 1.9% versus the first quarter of 2011. The 10- and 20-City Composites posted respective annual returns of -2.8% and -2.6% in March 2012. Month-over-month, their changes were minimal; average home prices in the 10-City Composite fell by 0.1% compared to February and the 20-City remained basically unchanged in March over February. However, with these latest data, all three composites still posted their lowest levels since the housing crisis began in mid-2006.”


Note that the table of Metropolitan regions is still showing composite year iover year price decreases:

Source: S&P Indices and Fiserv
Data through March 2012




More charts after the jump


Source: S&P Indices

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