House Prices – Down but not so much?

by Tom on June 30, 2009
in house prices

I’m sure we’ll hear more on the details going forward, but the Case Shiller report for May just came out. A couple of thoughts about it:

Due to the way they track it, it is considered to be more reliable than the other methods out there.
The pace of decline is slowing. Remember the saying, 1 month does not a trend make.
The year over year numbers are still ugly.

We might be entering the “bottoming” of the real estate prices on a national basis, it’s just too early to tell yet.

I’ll have more on this later….

Tom Vanderwell
Home-Price Decline Eases, Suggesting Stability in Areas – Real Estate * US * News * Story – CNBC.com

Prices of U.S. single-family homes declined in April from the prior month, but the pace moderated, suggesting stability is emerging in some regions, according to Standard & Poor’s/Case Shiller home price indexes reported Tuesday.

Andy Truello

The index of 20 metropolitan areas dipped 0.6 percent in April from March, after a 2.2 percent decline the month before, for an 18.1 percent downturn from a year earlier.

S&P said its index of 10 metropolitan areas declined 0.6 percent in April for an 18 percent year-over-year drop, after falling 2.1 percent month on month in March.

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The rate of annual decline in these measures has improved, from 18.7 percent for both indexes in March.