Skip to footer

Home prices keep falling

The non-seasonally adjusted Composite-10 price index declined 0.78 percent since January while the Composite-20 index declined 0.76 percent over the same period resulting in the lowest level seen to on the Composite-10 since April 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.

|
SoldAtTheTop
This chart shows the S7P/Case-Shiller composite index for home prices since 2000. Home prices have failed to recover from the three-year plummet that began in 2007, and continue to trend steadily downward.

Note... be sure to bookmark the overall S&P/Case-Shiller Dashboard or the Scary Housing Dashboard of the weakest markets for a real-time view of all the markets tracked by S&P.

The latest release of the S&P/Case-Shiller (CSI) home price indices for February reported that the non-seasonally adjusted Composite-10 price index declined 0.78% since January while the Composite-20 index declined 0.76% over the same period resulting in the lowest level seen to on the Composite-10 since April 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.

The latest CSI data clearly indicates that the price trends are experiencing a declining trend into the typically less active summer and fall season and as I recently pointed out, the more timely and less distorted Radar Logic RPX data is continuing to capture notable falling prices driven primarily by seasonality.
The 10-city composite index declined 3.60% as compared to February 2011 while the 20-city composite declined 3.49% over the same period.

Topping the list of regional peak decliners was Las Vegas at -61.71%, Phoenix at -54.22%, Miami at -50.34%, Tampa at -47.96% and Detroit at -46.01%.
Additionally, both of the broad composite indices show significant peak declines slumping -35.08% for the 10-city national index and -35.02% for the 20-city national index on a peak comparison basis.
To better visualize today’s results use Blytic.com to view the full release.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
editor@csmonitor.com
Subscribe
Mark Sappenfield
Editor

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

Subscribe to insightful journalism

QR Code to Home prices keep falling
Read this article in
https://www.csmonitor.com/Business/Paper-Economy/2012/0424/Home-prices-keep-falling
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe