The Case Shiller Index was published from S&P for data ending December 31 2011. The national composite posted a 1.1% loss in December over November or -3.9% and 4.0% annual drop.
New York, February 28, 2012 – Data through December 2011, released today by S&P Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed that all three headline composites ended 2011 at new index lows. The national composite fell by 3.8% during the fourth quarter of 2011 and was down 4.0% versus the fourth quarter of 2010. Both the 10- and 20-City Composites fell by 1.1`% in December over November, and posted annual returns of -3.9% and -4.0% versus December 2010, respectively. These are worse than the -3.8% respective annual rates both reported for November. With these latest data, all three composites are at their lowest levels since the housing crisis began in mid-2006.
Minneapolis / St Paul Case Shiller Index
(not seasonally adjusted figures)
For Minneapolis / St Paul’s Index had some pretty weird gyrations for 2011. Minneapolis / St Paul posts 4.9% year over year decline, true statement but take a closer look at the gyrations over 2011…
- December 2010 to December 2011: – 4.9%
- January 2011 to December 2011: – 1.6%.
- November 2011 to December 31 2011: – 1.8% .
All numbers are true, but which one will the press run with?? ” Minneapolis / St Paul Home values drop by 4.9%”
It’s all in how you look at it… There are 2 charts below: The first shows us the gyrations for 2011, the 2nd shows us historical perspective compared with the Composite 20.
The historical perspective is what this index is good for – the overall trend. The overall trend appears to be “bouncing along the bottom”, but I guess that doesn’t sell newspapers…
- Case-Shiller House Prices – Where You Live Matters (eyeonhousing.wordpress.com)
- S&P Case-Shiller Indices at Post-Crisis Lows (mortgagenewsdaily.com)
- Consumer Confidence, Case-Shiller Index (economistsoutlook.blogs.realtor.org)
- Case-Shiller Index: Minneapolis Home Prices Decline by 4.9% Year over Year through December 2011 (johnmurphyreports.com)