Both S&P/Case-Shiller Composites Fell in December

S&P/Case-Shiller Composites 10 fell 0.2% in December; S&P/Case-Shiller Composites 20 fell 0.3% in December. We have home prices declining for two consecutive months. Off course this has lot to with seasonal factors. The important question is will the prices will hold up in summer.

Chart 1. S&P/Case-Shiller Composites

Source: Bloomberg

Chart 2. S&P/Case-Shiller Composites Percent Change

Source: Bloomberg

From the Press release:

Looking at the monthly statistics, 15 of the 20 metro areas showed a decline in December over November, with Chicago posting the sharpest decline, down 1.6%. Las Vegas finally posted its first positive print in more than three years, with +0.2%. The Southwest continues to be a bright spot, with San Diego posting its eighth consecutive monthly increase, and Los Angeles and Phoenix both posting their seventh. Three of the markets – Charlotte, Seattle and Tampa – posted new low index levels as measured by the past four years. In other words, any gains they might have seen in recent months have been erased and December is now considered their current trough value.

This entry was posted on Tuesday, February 23rd, 2010 at 4:47 pm and is filed under U.S. Housing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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