Keeping you up to date on the latest data releases.
The S&P Case-Shiller Quarterly National Composite Index rose 1.14 percent in the first quarter of 2012 but has fallen 1.86 percent over the past four quarters. On a monthly basis, both the 10-city and 20-city composites rose 0.1 percent from February to March. The 10-city and 20-city composites continue to post negative annual growth rates and are down 2.6 percent and 2.8 percent, respectively. While there has been an improvement in certain regions, housing prices have not completely turned the corner, and we are now back to mid-2002 levels.
The FHFA monthly housing price index rose 1.8 percent in March and 2.7 percent over the past 12 months to an indexed level of 185.6. Regionally, all areas experienced modest growth on both a monthly and an annual basis. The overall rise in monthly housing prices has helped to boost the quarterly index, which rose 0.6 percent during the first quarter of 2012 and 0.5 percent over the past four quarters. This represents the first annual increase in the quarterly index since the second quarter of 2007.