United States: S&P/Case-Shiller Indices Show Home Prices Increase26 July, 2011, 21:34. Posted by Zarathustra
Tags: Real Estate, United States
S&P/Case-Shiller Indices for US housing market rise for the second consecutive month (non-seasonally adjusted).
The 10-city composite for May (which is the three-month average of March, April and May) rose by 1.1%, while that for 20-city composite rose by 1.0% on a month-on-month basis. On a seasonally adjusted basis, however, the month-on-month change of prices have been pretty much flat for two months.
On an year-on-year basis, the 10-city composite fell 3.6%, while the 20-city composite fell by 4.5%, showing that the dip seems to be accelerating somewhat, and the faster year-on-year decline in 18 months.
Source: Standard & Poor’s
The housing market might have improved somewhat in the past few months, but this might well be a purely seasonal effect, as the seasonally-adjusted data points to a flat prices movement. Thus it seems to be still too early to believe that the worst is over.