S&P/Case-Shiller Home Price Indexes Fell In November

(For October 2010)

Seasonly adjusted S&P/Case-Shiller HPI 10 city composite fell 0.4% in November; On year level 10 city index is down 0.4%.

Chart 1. S&P/Case-Shiller Composite 10 SA

Seasonly adjusted S&P/Case-Shiller HPI 20 city composite fell 0.5%; On year level 20 city index is down 1.6%.

Chart 2. S&P/Case-Shiller Composite 20 SA

As expected the prices are falling. The backlog of unsold homes (excluding shadow inventory and assuming no escalation in inflow of foreclosed homes into the market) is so low that large fall in house prices seems, for the time being, a low probability event.

This entry was posted on Tuesday, January 25th, 2011 at 8:27 am and is filed under U.S. Economic Data, 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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