Keeping you up to date on the latest data releases.
The S&P Case-Shiller Home Price Index fell 0.7 percent for both the 10- and 20-city composite indexes from October to November. Compared to last year, both the 10- and 20-city composites are down 3.6 and 3.8 percent, respectively. For the second consecutive month, 19 of the 20 covered cities saw their home prices decrease. However, eight of the 20 cities, including Cleveland, saw a decrease in monthly declines compared to October’s figures. Down 11.8 percent from last year, Atlanta maintains the lowest annual gain, while Detroit and Washington DC continue to post the only positive annual gains of 3.8 and 0.5 percent, respectively. Both indexes are now back to mid-2003 levels.
The FHFA HPI rose 1.0 percent in November, following a downwardly revised 0.7 percent decline in October (from −.2 percent). On a year-over-year basis, the HPI is down 1.8 percent and is still 18.8 percent below its April 2007 peak. Performance across regions has been mixed over the past year. The largest year-over-year decline in house prices was in the Pacific region (down 4.2 percent), while the South Atlantic region saw the largest increase (up 2.1 percent).