Case Shiller: home prices down slightly in August

Calculated Risk reported that S&P/Case Shiller’s monthly Home Price Indices for August (actually a three-month average of June, July and August) indicate that home prices, when seasonally adjusted, declined.

By Mary Beth Nevulis, HousingZone Contributing Editor | October 26, 2011
home prices, home price index, case shiller, housing market

 

Calculated Risk reported that S&P/Case Shiller’s monthly Home Price Indices for August (actually a three-month average of June, July and August) indicate that home prices, when seasonally adjusted, declined.

Some data:

In six of the 20 Case-Shiller cities, prices increased in August; prices in Las Vegas are off 59.8 percent from the peak, and prices in Dallas are only off 9 percent from the peak.

  • The Composite 10 index is off 32.2 percent from the peak, and down 0.2 percent in August (seasonally adjusted). The Composite 10 is 1 percent above the June 2009 post-bubble bottom (seasonally adjusted).
  • The Composite 20 index is off 32 percent from the peak, and down 0.1 percent in August (seasonally adjusted). The Composite 20 is slightly above the March 2011 post-bubble bottom seasonally adjusted.
  • The Composite 10 SA is down 3.6 percent compared with August 2010. 
  • The Composite 20 SA is down 3.9 percent compared with August 2010. This is slightly smaller year-over-year decline than in July.

To read Calculated Risk's blog post, click here. To see the not seasonally adjusted numbers, go to Standard and Poor's website.

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