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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