United States: S&P/Case-Shiller Indices Show Mixed Signs Of Stabilisation27 September, 2011, 21:42. Posted by Zarathustra
Tags: Case-Shiller, Housing, Real Estate, United States
S&P/Case-Shiller Indices for US housing market rise for the fourth consecutive month (non-seasonally adjusted).
The 10-city composite for July (which is the three-month average of May, June and July) rose by 0.9%, and the 20-city composite rose by 0.9% on a month-on-month basis. On a seasonally adjusted basis, however, the 10-city composite fell 0.1%, and the 20-city composite was flat, vs. consensus expectation of 0.1% rise.
On an year-on-year basis, the 10-city composite fell by 3.7%, and while the 20-city composite fell by 4.1% vs. the expectation of 4.4% decline.
Source: Standard & Poor’s
The overall picture continues to be kind of mixed. We have the year-on-year change beating estimates while the month-on-month figures were not impressive. Besides, the seasonally-adjusted figures suggest that much of the gains are seasonal effect. Thus perhaps the market is stabilising, but it appears to be too early to call a turnaround.