EconoIndicators

Case-Shiller Housing Price Index At a Glance

• Composite 20 Index: 166.23
• Monthly Change:Down 0.9%
• Composite 10 Index: 178.46
• Monthly Change: Down 1.1%

Technorati Tags: Case-Shiller Index, housing prices, home prices

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a
bottom” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. “Little positive
news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and
-29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis. The Sunbelt
continues to be the story, with the seven cities that basically represent that area reporting annual declines
roughly between 20 and 30%. While some cities did show some marginal improvement over last month’s
data, there is still very little evidence of any particular region experiencing an absolute turnaround.”
While there are differences across regions, at the national level the housing market peaked around
June/July of 2006. As of July 2008, two years later, the 10-City Composite has fallen by a total of 21.1%
and the 20-City Composite is down 19.5%.
Las Vegas remains the weakest market, reporting an annual decline of 29.9%, followed by Phoenix and
Miami at -29.3% and -28.2%, respectively. Atlanta, Dallas, Minneapolis and Tampa showed
improvements in their annual and monthly returns, but all four are still too close to their recent lows to
determine if the markets have stabilized. While their annual returns are negative, Atlanta, Boston, Dallas,
Denver and Minneapolis all reported positive returns for the three months or more.

Case Shiller Home Price Index – July 2008 [PDF]

Case Shiller Home Price History [Excel]

Source: Standard and Poors