S&P/Case-Shiller Home Price Index: -0.2% MoM. -3.1% YoY.

by devteam February 23rd, 2010 | Share

Standard and Poor's released the Case-Shiller Home Price Index this morning.

The S&P/Case-Shiller Home Price Indices are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length single family homes sales data. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.


In last month's release, which reported on home price changes in November, both the 20 city index and 10 city index fell 0.2% on a month over month seasonally unadjusted basis. Year over year, home prices were down 4.5% while the 10 city index fell 5.3%. Seasonal influences were again obvious in last month's release. On an adjusted basis both the 10 city and 20 city were up 0.2% in November. Fall and Winter is a slow time of the year for housing, generally home prices have less support during this time of year.


20-CITY CONSENSUS ESTIMATE: +0.0%  Month over month. -3.2% Year over Year

SEASONALLY UNADJUSTED: Home prices in 20 U.S. cities fell 0.2% in Decemeber. Home prices are down 3.1% since last December. The month over month print was slightly worse than expected, the YoY was marginally better than anticipated but not far from forecasts.

SEASONALLY ADJUSTED: Home prices in 20 U.S. cities rose 0.3% in December.

Here is a table of the unadjusted data.

More to come…

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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