Wednesday, April 1, 2009

Case-Shiller Index for January


The Case-Shiller 20-city home price index came out yesterday, unfortunately the national numbers only come out quarterly, but the 20-city index showed the same sharp decline that the national NAR January numbers did:

The Case-Shiller 20-city home price index fell a record 2.8% in January ...

Prices are down 29% from the peak in mid-2006, according to Case-Shiller. Prices have fallen to September 2003 levels.

Remember, these are only looking at a set of 20 US cities, they aren't national numbers. The NAR median home prices stayed relatively flat in February, it will be interesting to see if the CS numbers again follow suit. The NAR numbers are normally more volatile than the CS numbers due to what they measure.


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