Today's release of the S&P/Case-Shiller (CSI) home price indices for February reported that the non-seasonally adjusted Composite-10 price index increased for a straight month rising 0.37% since January while the Composite-20 index increased 0.29% over the same period.
The latest CSI data is continuing to demonstrate more resiliency than seen in recent years as prices continue to move up even in the face of typically lower seasonal transactions.
If this trend continues, rather than declining as has been seen in past years, prices may just remain flat into the March-April release in advance of the typical uplift from the more active spring transactions.
The 10-city composite index increased 8.60% as compared to February 2012 while the 20-city composite increased 9.32% over the same period.
Both of the broad composite indices show significant peak declines slumping -29.63% for the 10-city national index and -29.03% for the 20-city national index on a peak comparison basis.