Econintersect sees a declining home price dynamic in play that may last through 2011, which reflected by the relatively weak seasonal bounce for the spring home buying season. While Case-Shiller home price index is only 0.0072% from its recession low point set in April 2009, all other major indices are already in double dip territory.
Although prices are down, CoreLogic and others see signs the home price market is stabilizing. Distressed sales are what is driving prices lower. Sales that are not distressed are little changed year over year.
Editor’s Note: This article was guest authored by Scott Sambucci, the Vice President, Market Analytics at Altos Research – a Silicon Valley-based company that provides real-time real estate market analytics. With the S&P/Case-Shiller Index released this week (analysis here), everyone is aflutter with talk of a double-dip in house prices. Remain calm. These are January …
Econintersect is using the Case-Shiller data release to overview the home price situation. Generally, all home price indexes are trending down.
Econintersect is using the Case-Shiller data release to overview the home price situation as of December 2010. All home price indexes are trending down.