Monday, December 21, 2009

House Price Indices: Case-Shiller and LoanPerformance

by Bill McBride on 12/21/2009 10:51:00 PM

Earlier today I mentioned that the Fed started using First American CoreLogic's LoanPerformance House Price Index last year for the Flow of Funds report.

And also that LoanPerformance announced today that house prices fell 0.7% in October.

Since most people have been following Case-Shiller, here is a graph of the LoanPerformance index (with and without foreclosures) and the Case-Shiller Composite 20 index.

House Price Indices Click on graph for larger image in new window.

This graph shows the three indices with January 2000 = 100.

The indices mostly move together over time. Notice how the total LoanPerformance index fell further than the index excluding foreclosures - and also rebounded more.

The Case-Shiller index will probably show a decline in October - although Case-Shiller is an average of three months, so it might be a small decrease. The question is how much further will prices fall?

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