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Old 05-29-2012, 07:08 AM
 
261 posts, read 422,953 times
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U.S. home prices were unchanged in March, according to the S&P/Case-Shiller 20-city composite index. The three-month rolling index includes transactions that took place from January to March. Over the past 12 months, prices have fallen 2.6% as measured by the Case-Shiller index, which is now at a post-recession and all-time low. "While there has been improvement in some regions, housing prices have not turned," says David M. Blitzer, chairman of the index committee at S&P Indices.
The market expected down 2.8%.
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Old 05-29-2012, 07:39 AM
 
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Well what cities did they include? Also, they are going by closed sales, and the rise did not really start until this quarter, and these houses haven't closed and will not be reflected until next quarter and in some cases the following quarter.
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Old 05-29-2012, 07:47 AM
 
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Originally Posted by modhatter View Post
Well what cities did they include? Also, they are going by closed sales, and the rise did not really start until this quarter, and these houses haven't closed and will not be reflected until next quarter and in some cases the following quarter.
Here is the list of cities. Las Vegas is included.

The index is published monthly. I wouldn't take one month as definitive. Here is a chart which puts things in better perspective. I guess you could read that as forming a bottom or as the calm before the storm.
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Old 05-29-2012, 08:31 AM
 
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It doesn't reflect what we are seeing here, which is an increase in both the number of homes sold and the selling price. Of course it could all change over the summer...
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Old 05-29-2012, 10:19 AM
 
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Las Vegas is up slightly month over month in Case Shiller.

Note that the CS index will be less sensitive to an increase in the price of more expensive homes...that is the classics increasing and becoming a larger portion of the sales. Case Shiller normalizes all prices so you see percentage changes between two sales of the same property.

This means CS will not reflect changes in price driven by mix rather than an overall increase.
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Old 05-29-2012, 06:43 PM
 
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Data extrapolated graphically:

March Case-Shiller 20-city Index-dana-fradon-little-dutch-boy-his
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