Case Shiller: home prices down slightly in August

Calculated Risk reported that S&P/Case Shiller’s monthly Home Price Indices for August (actually a three-month average of June, July and August) indicate that home prices, when seasonally adjusted, declined.

October 26, 2011
home prices, home price index, case shiller, housing market

 

Calculated Risk reported that S&P/Case Shiller’s monthly Home Price Indices for August (actually a three-month average of June, July and August) indicate that home prices, when seasonally adjusted, declined.

Some data:

In six of the 20 Case-Shiller cities, prices increased in August; prices in Las Vegas are off 59.8 percent from the peak, and prices in Dallas are only off 9 percent from the peak.

  • The Composite 10 index is off 32.2 percent from the peak, and down 0.2 percent in August (seasonally adjusted). The Composite 10 is 1 percent above the June 2009 post-bubble bottom (seasonally adjusted).
  • The Composite 20 index is off 32 percent from the peak, and down 0.1 percent in August (seasonally adjusted). The Composite 20 is slightly above the March 2011 post-bubble bottom seasonally adjusted.
  • The Composite 10 SA is down 3.6 percent compared with August 2010. 
  • The Composite 20 SA is down 3.9 percent compared with August 2010. This is slightly smaller year-over-year decline than in July.

To read Calculated Risk's blog post, click here. To see the not seasonally adjusted numbers, go to Standard and Poor's website.

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