Today’s Case-Shiller Index

The latest Case-Shiller numbers came out this morning. This is a home-price index. There’s a bit of a lag in these numbers, so today’s report covers January.

The bottom line is that home prices aren’t doing much of anything. In fact, they’re backsliding some. Below are the seasonally-adjusted numbers for the Case-Shiller’s 10 City Index and for their 20 City Index. The 10-City numbers go back to 1987. Both indexes have declined for the last seven months in a row.

The 10-City Index is currently just 2.2% above its recent low from May 2009. The 20-City Index is less than 1% above its level from that same month.

Both indexes peaked in April 2006 and both are currently down 31% since then.

It’s odd, but I remember when folks thought the home price decline of the early 90s was severe. The chart shows us that this decline was nothing compared to what was going to happen.

Posted by on March 29th, 2011 at 9:22 am


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