Case-Shiller Home Price Indices October 25, 2011 Report

25 10 2011

The Case-Shiller Report showed yet another increase for its 10- and 20- city composites for the fifth month in a row. It was up 0.2% from July to August 2011.  A sign things are slowly recovering in the housing market.

 

Over last year, the composites are both down -3.5% for the 10-city and -3.8% for the 20-city; however, month to month from July to August both composites and 16 of the 20 MSAs (Metropolitan Statistical Areas) showed an improvement in their annual rates for 2011. Detroit and Washington D.C. actually had positive annual increases in sales price by 2.7% and 0.3% respectively.

 

David Blitzer, Chairman of the Index Committee at S&P Indices, actually used words like “improvement,” “good news” and “hope” for the first time in nearly 2 years.

 

“In the August data, the good news is continued improvement in the annual rates of change in home prices…With 16 of 20 cities and both Composites seeing their annual rates of change improve in August, we see a modest glimmer of hope with these data.”

 

The good news is the decline of these rates nationally and Portland locally.  Last month’s report had the decline at -3.7% for the 10-city and -4.1% for the 20-city composite.  Though a slow decline, it is a healthy and welcomed one in the right direction.

 

This report has the nation between September and October 2003 (10-City) and between June/July 2003 (20-city) price levels. The report also states that we are -30.9% and -30.8% below the June/July 2006 peak.

 

Portland slightly moved up almost to the February 2005 level at 135.91 compared to the last report where it was at a January 2005 level.  Seattle moved slightly down to October/November 2004 levels at 137.09 compared to the December 2004 level last report. 

 

This is, as David Blitzer says, “good news,” for the housing industry.  We could potentially see some positive numbers showing up late next spring.

case schiller oct 25, 2011 

 

Here is the full report in .pdf form.

 

 

 

Dustin Miller

 

Realty Trust Group

DustinM@RealtyTrust.com

Advertisements

Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: