The housing market recovery appears to be sustainable. Two home price indexes –the Case-Shiller and the Federal Housing Finance Agency’s Home Price Index– both document a larger than expected increase in home prices. CASE-SHILLER INDEX SHOWS RECORD QUARTERLY GAIN DSnews.com reports today in an article penned by Mark Lieberman, Five Star Institute Economist, that home…
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All 20 Case-Shiller Index markets improved between April and May 2012.
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Maybe homes are holding value better than we thought.
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The March Case-Shiller Index was released this week and it corroborates the findings of the government’s most recent Home Price Index — home values are slipping nationwide.
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According to the January Case-Schiller Index, values are down 3.1% from last year, retreating to the same levels from Summer 2003. As a buyer or seller in today’s market, though, don’t read too much into it. The Case-Shiller Index is far too flawed to be the final word in housing.
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December’s Case-Shiller Index showed major devaluations nationwide. As compared to December 2009, on a year-over-year basis, home values fell in 18 of the Case Shiller Index’s 20 tracked markets, and the U.S. National Index dropped 4 percent overall. The retreat puts December’s home values at similar levels as compared to early-2003.
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Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday. The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3.
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