Nationally, Home Prices Off 18.3 Percent From April 2007 Peak
The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.
The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.
Standard & Poor's released its September 2011 Case-Shiller Index this week. The index tracks home price changes in select cities between months, quarters, and years. The Case-Shiller Index for September showed drastic devaluations nationwide.
Since bottoming out in March of this year, the Case-Shiller Index is up nearly 4 percent.
The most recent Case-Shiller Index shows a 0.9% rise in home values from June to July 2011. Home values were higher in 17 of the 20 tracked cities.
The June 2011 Case-Shiller Index reading posted strong numbers across the board, with each of the index's 20 tracked markets showing home price improvement from May.
May's Case-Shiller Index showed a 1 percent increase from April 2011. Home values rose in 16 of the Case-Shiller Index's 20 tracked markets. Only Detroit, Las Vegas and Tampa fell. Phoenix was flat.
Maybe homes are holding value better than we thought.
According to the January Case-Schiller Index, values are down 3.1% from last year, retreating to the same levels from Summer 2003. As a buyer or seller in today's market, though, don't read too much into it. The Case-Shiller Index is far too flawed to be the final word in housing.
December's Case-Shiller Index showed major devaluations nationwide. As compared to December 2009, on a year-over-year basis, home values fell in 18 of the Case Shiller Index's 20 tracked markets, and the U.S. National Index dropped 4 percent overall. The retreat puts December's home values at similar levels as compared to early-2003.
Home values were reported unchanged in November 2010, on average, according to the Federal Home Finance Agency's Home Price Index.
The housing market continues to expand, and surprise.
The Federal Home Finance Agency's data showed values up 0.4 percent nationwide, on average. Region-by-region, however, the results were scattered. Coastal states tended to perform poorly. Plains states tended to perform well.