Case-Shiller index shows fourth straight month-over-month increase (mortgage, mortgages, prices)

[glenn_1000]

NEW YORK (CNNMoney.com) -- Home prices rose for the fourth month in a row during August and suffered a smaller-than-expected annual drop, according to a report issued Tuesday.

Prices in the S&P Case-Shiller Home Price index of 20 cities rose a non-seasonally adjusted 1.2% in August. It was the fourth consecutive monthly increase and followed a 1.6% gain in July.

State by state. In California, home prices have recovered notably from depressed levels in recent months, according to the report.
Home prices rose 2.8% in San Francisco during August, while San Diego prices were up 2.5% and Los Angeles gained 1.8% in the month.
Minneapolis had the biggest increase, with home prices rising 3.2% from July to August.


Home prices continue rebound - Oct. 27, 2009

[glenn_1000]

Bumping this back up because some other thread titles are clueless.

[JohnG72]

You didn't include the entire content of the article in your posting, which states things opposite of what you are trying to indicate.

[le roi]

hey glenn, what does it mean when it says 'non-seasonally adjusted?' is that important?

[London Girl]

Originally Posted by rubber_factory

hey glenn, what does it mean when it says 'non-seasonally adjusted?' is that important?

Exactly.

I'll be more optimistic when unemployment starts to fall and when the next wave of resets is behind us:

IMFresets.jpg (image)

The data shown in the article shows year on year declines in every city listed - how is this "recovery"???? And the final comment is that a further 11.3% annual fall is predicted for nationwide median home prices.

[almost3am]

Originally Posted by London Girl

The data shown in the article shows year on year declines in every city listed - how is this "recovery"????

It is called a recovery when the trend changes for a period of time, which is what these analysts are saying in this article. Whether that trend change continues is definitely open to debate, but that is the point being made in the article.

[almost3am]

Originally Posted by rubber_factory

hey glenn, what does it mean when it says 'non-seasonally adjusted?' is that important?

That depends on the SA factor used, but anyway I did check the SA figures and they are +1.0% for both the 10 & 20 index.

[Giesela]

I've never lived in any one of those 20 cities.
Goody for them. Its not whats happening in my region

[trickymost]

Originally Posted by London Girl

Exactly.

I'll be more optimistic when unemployment starts to fall and when the next wave of resets is behind us:

IMFresets.jpg (image)

The data shown in the article shows year on year declines in every city listed - how is this "recovery"???? And the final comment is that a further 11.3% annual fall is predicted for nationwide median home prices.

Every time I look at this chart I'm awed by the scope of the problem ahead. Particularly with the alarming rate at which these prime mortgage holders are strategically walking away, with the peak not even for some time.

The last drop of Fed QE money should be exhausted by end of Q2 sometime in Q3 2010.

The absolute worst case scenario is we have another bout with this crisis during the height of the 2010 mid term elections. I can't fathom what sort of civil unrest we'll see if there is another fiscal crisis which requires bailing out financial institutions using money we don't have. That would be bad for all.

Actually, that's incorrect. The worst case is another financial crisis caused by prime mortgages going bad while the government tries to deal with the commercial real estate crisis, which should be well underway.

[amerifree]

Indeed, the 'green shoots' are dead...dead...dead.
Hold on for the huge slide pres.-2012.