Case Shiller Index was released today for period ending January 2012. For the Composite 20 Index the prices showed a decline of 0.8% from December 2011 to January 2012 or a 1-year change of -3.8%.
Minneapolis / St Paul index also showed a -0.8% decline from December 2011 to January 2012 and a modest -1.8% 1-year change.
It appears like the data we are seeing in our local market place of a balancing market is beginning to be reflected in the Case Shiller Index. There is a lag time with this index, but it is great for seeing the real estate market from a historic perspective over time.
- Case-Shiller Index (economistsoutlook.blogs.realtor.org)
- Real House Prices and Price-to-Rent Ratio decline to late ’90s Levels (calculatedriskblog.com)