Case-Shiller: Home prices down slightly in November
Home prices declined a slight 0.17 percent in November 2012, according to the S&P/Case-Shiller (CSI) home prices indices.
Today's release of the S&P/Case-Shiller (CSI) home price indices for November reported that the non-seasonally adjusted Composite-10 price index declined a slight 0.17% since October while the Composite-20 index declined 0.09% over the same period.Skip to next paragraph
Writer, The PaperEconomy Blog
'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.
Subscribe Today to the Monitor
The latest CSI data clearly demonstrates that the typical seasonal pattern is continuing to play with price weakness coming as a result of lower transactions. If this trend continues, prices should continue to decline into the February-March release in advance of the typical uplift from the more active spring transactions.
It's important to recognize though that on a year-over-year basis, nominal prices remain in positive territory possibly indicating that this seasons seasonal weakness may minor compared to recent years.
RECOMMENDED: Top 10 metros for job growth
The 10-city composite index increased 4.54% as compared to November 2011 while the 20-city composite increased 5.52% over the same period.
Both of the broad composite indices show significant peak declines slumping -30.05% for the 10-city national index and -29.39% for the 20-city national index on a peak comparison basis.
To better visualize today’s results use Blytic.com to view the full release.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.