S&P/Case-Shiller Home Prices Indices November 29, 2011
This post might seem negative at first, but if you read the data, we are slowly progrssing into better numbers. Are declines are not as sharp as the past quarters. I think we will continue to see improvemetns into next year. We here at BBC are looking forward to an amzing 2012!
New York, November 29, 2011 – Data through September 2011, released today by S&P Indices for its
S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that nationally
home prices did not register a significant change in the third quarter of 2011, with the U.S. National
Home Price Index up by only 0.1% from its second quarter level. The national index posted an annual
decline of 3.9%, an improvement over the 5.8% decline posted in the second quarter. Nationally, home
prices are back to their first quarter of 2003 levels.
As of September 2011, the annual rate of change in 14 of the 20 MSAs and both Composites, covered by
S&P/Case-Shiller Home Price Indices, improved versus August. Atlanta, Las Vegas, Los Angeles, San
Francisco, Seattle and Tampa recorded lower annual declines in September compared to August. Detroit
and Washington DC were the only two MSAs to post positive annual rates of +3.7% and +1.0%
respectively. Detroit has now recorded three consecutive months of positive annual rates.
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