January Case-Shiller home price index offers mixed messages

The latest release of S&P’s Case-Shiller indices found that home prices rose in Miami, Phoenix, and Washington, D.C., in January, according to HousingWire. In addition, 10 markets were able to marginally improve their annual return rates from the previous month. On the whole, however, home prices did go down for the month.

March 28, 2012
Case-Shiller, S&P, January, home price index, composite, return rates

The latest release of S&P’s Case-Shiller indices found that home prices rose in Miami, Phoenix, and Washington, D.C., in January, according to HousingWire. In addition, 10 markets were able to marginally improve their annual return rates from the previous month. On the whole, however, home prices did go down for the month.

The news on return rates provides some optimism, as 10 markets — Dallas, Denver, Miami, Minneapolis, New York, Phoenix, San Diego, Seattle, Tampa, and Washington, D.C. — got a boost in that category. Nine other cities saw their price returns go down.

The 10-city composite index receded 3.9 percent while the 20-city composite fell 3.8 percent; put together, the index as a whole dropped 0.8 percent. Atlanta had the greatest individual drop, with prices decreasing 2.1 percent from the previous month and 19.7 percent over the previous six months.

S&P reports that eight metro areas — as well as both individual indexes — posted all-time lows in January.

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