Tuesday, March 30, 2010

Case-Shiller House Price Graphs for January

by Bill McBride on 3/30/2010 10:44:00 AM

Finally. Every month the S&P website crashes when the Case-Shiller data is released.

IMPORTANT: These graphs are Not Seasonally Adjusted (NSA). Unfortunately this month only the NSA data is currently available. Usually I report the SA data, but that isn't available.

S&P/Case-Shiller released the monthly Home Price Indices for January (actually a 3 month average).

The monthly data includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities).

Case-Shiller House Prices Indices Click on graph for larger image in new window.

The first graph shows the nominal not seasonally adjusted Composite 10 and Composite 20 indices (the Composite 20 was started in January 2000).

The Composite 10 index is off 30.2% from the peak, and down about 0.2% in January (media reports are an increase seasonally adjusted - but that data isn't available).

The Composite 20 index is off 29.6% from the peak, and down about 0.4% in January (NSA).

Case-Shiller House Prices Indices The second graph shows the Year over year change in both indices.

The Composite 10 is essentially flat compared to January 2009.

The Composite 20 is off 0.7% from January 2009.

The third graph shows the price declines from the peak for each city included in S&P/Case-Shiller indices.

Case-Shiller Price Declines Prices decreased (NSA) in 18 of the 20 Case-Shiller cities in January NSA.

On a SA basis from the NY Times: U.S. Home Prices Prices Inch Up, but Troubles Remain

Twelve of the cities in the index went up in January from December. Los Angeles was the biggest gainer, up 1.7 percent. Chicago was the biggest loser, dropping 0.8 percent.
NOTE: Usually I report the Seasonally Adjusted data (see NY Times article), but that data wasn't available. So remember these graphs are NSA.