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Despite January being the first of 3 record warm winter months, which saw virtually all other economic indicators boosted on the heels of 'April in February', today's incomplete Case Shiller data (Charlotte, NA was missing), indicated that in the first month of the year, prices across the top 20 MSAs dropped once again, posting a 9th consecutive decline, declining by 0.04% to 136.60. The Seasonally Adjusted print brings the average home price to December 2002 levels. And just to avoid Seasonal Adjustment confusion which courtesy of a record warm winter is all the rage, the NSA data showed a...

According to S&P Case-Shiller, The S&P/Case-Shiller index of property values in 20 cities declined 3.7 percent from November 2010 after decreasing 3.4 percent in the year ended in October. If we look at the Case-Shiller 20 City Index (blue) and Bankrate’s 30 year mortgage average rate (orange), you can see the problem. Mortgage rates continue to fall, but housing prices continue to fall with it. Of course, foreclosed properties are still a drag on the housing market. On a month-over-month (MoM) basis, Case-Shiller 20 City index fell -0.7%, more than expected (SA). But if we look at Non Seasonally-Adjusted (NSA)...

‘Unexpected’ U.S. Home Price Decline Is A Serious Reason To Worry About Economy Housing-Market / US Housing Dec 30, 2010 - 05:26 AM By: Mac Slavo The Standard & Poors/Case-Shiller index’s most recent report shows that home prices across the country are sliding. For economists, this is yet another unexpected decline. For readers of non-mainstream news, analysis and opinion, this was to be expected. Robert Shiller, co-creator of the index joins the Wall Street Journal and shares his perspective: It’s still only a few months we’ve seen these declines. So, it’s not clear that we have a downtrend. But, if...

The housing bubble continues to deflate despite the Obama administration’s efforts to delay the inevitable. Housing prices sank faster in September than in any time this year after seeing them rise briefly in the spring, thanks to short-term interventions by the federal government. As foreclosures start increasing, values will drop even further: Home prices are falling faster in the nation’s largest cities, and a record number of foreclosures are expected to push prices down further through next year. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday fell 0.7 percent in September from August. Eighteen of the cities recorded...

Case-Schiller's September housing report came out worse than expected, confirming to any doubters that the housing double dip is here. National home prices dropped 1.5% in September. The new data will worsen Case-Shiller's already bearish outlook for the housing market. Earlier this month, it forecast a 7.1 percent drop in prices from Q2 '10 to Q2 '11, with price stagnation through Q2 '12. This is a brutal forecast, which would have wide economic consequences. Five years after the housing peak, markets in Florida, Nevada and California would remain down around 60 percent.

Housing Numbers - Are They Being Cooked?September 1,2010 The Market Ticker Karl Denninger I have a very disturbing email that came in this evening. It alleges out-and-out fraudulent reporting of home sales in one of the regional MLS systems. That is, prices paid that are in fact much lower than the "sold" prices reported in the MLS. The person in question claims to have seen over 100 of these in his area. I have copies of two, and it appears, from the evidence that I have, that at least for those two the claim is accurate. One in particular I...

The numbers: A 4.2% gain in June (and 4.4% gain in Q2) is better than expected, but as S&P is noting, there's likely a major impact from the tax credit, which has since expired. Home price gains were seen in 17 of the 30 cities. Stocks are coming back a bit, though are still looking towards a lower open. Here's the year-over-year chart from the release (See Chart 1): And here's a look the index (See Chart 2)

Get Ready: The Case-Shiller Will Show Housing Is Falling Again Vince VenezianiOct. 26, 2009, 12:43 PM The last few Case-Shiller reports have shown sequentially increasing home prices, but that's about to come to an end when the new numbers come out tomorrow. The Altos Research 10-City Composite Index is down 1.1% for the third quarter of 2009. Altos Research: From our October 2009 Real-time Housing Report, The Altos Research 10-City Composite Index was down by 0.5% in September and 1.1% during the third quarter. Using the housing market ask prices and more specifically, looking at the ask prices of new...