Home prices lift in July
The latest release of the S&P/Case-Shiller home price indices for July 2012 reported that the non-seasonally adjusted Composite-10 price index increased 1.52 percent since June.
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'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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The latest release of the S&P/Case-Shiller (CSI) home price indices for July reported that the non-seasonally adjusted Composite-10 price index increased 1.52% since June while the Composite-20 index increased 1.59% over the same period.
The latest CSI data clearly indicates that the price trends are experiencing a lift through the typically more active spring-summer season and as I recently pointed out, the more timely and less distorted Radar Logic RPX data while continuing to capture rising prices, is starting to see a leveling off of the trend as the data moves through the summer transactions and heads for the typical declines seen in late-summer and fall.
The 10-city composite index increased 0.62% as compared to July 2011 while the 20-city composite increased 1.20% over the same period.
Both of the broad composite indices show significant peak declines slumping -30.49% for the 10-city national index and -29.98% for the 20-city national index on a peak comparison basis.
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