Jeff Harding

Case And Shiller On Housing

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The video below is a very informative interview with the creators of the Case-Shiller Housing Index —which came out yesterday with more bad, but, inevitable news. All attempts by the government to forestall this decline have failed, and prices continue to slide.

According to the February Case-Shiller report:

– U.S. single family residential home prices are lower than a year ago but still slightly above their April 2009 bottom

– The 10-City and 20-City Composites fell 2.6% and 3.3% respectively from their February 2010 levels.

– Washington D.C. was the only market to post a year-over-year gain (+2.7%). Detroit was the only city to post a positive monthly price change, rising 1.0%, from January to February

– From their 2006/2007 peaks, 10 MSAs have posted new index level lows for the third consecutive month in February 2011: Atlanta, Charlotte, Chicago, Las Vegas, Miami, New York, Phoenix, Portland (OR), Seattle, and Tampa.

– The peak-to-current decline for the 10-City Composite and 20-City Composite now stands as -32.5% and -32.6%, respectively.

Case-Shiller Graph

Case-Shiller City Index Graph

Hat tip to Financial Armageddon

 

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Published by kind permission of Jeff Harding.
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