A Look at Case-Shiller, by Metro Area (January Update).The S&P/Case-Shiller Composite 20-city home price index, a broad gauge of U.S. home prices, posted a 1% drop in November from a month earlier and fell 1.6% from a year earlier, as the housing market faced a new round of trouble.
Nineteen of 20 cities in the index posted month-to-month declines in November — just San Diego notched an increase. Only four areas of the U.S. — Los Angeles, San Diego, San Francisco and Washington, D.C. — posted year-over-year gains. Nine markets — Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, Portland, Ore., Seattle and Tampa — hit their lowest points since home values started dropping four years ago, pushing prices in those areas below the lows seen in most regions in spring 2009.
“The price action is surely going to lead many to speculate as to whether the housing market is double dipping but we repeat our long held position; housing can only double dip if you believed it was bouncing in the first place,” said Dan Greenhaus, chief economic strategist at Miller Tabak & Co. “As we never believed the spring improvement was anything other than a mirage, we cannot believe in the concept of a double dip. Prices, according to the index, are down by 3.50% from the June high and we repeat our position that further price declines lay ahead.”
Read the full story.
Read the full S&P/Case-Shiller release.
Below, see data from the 20 metro areas Case-Shiller tracks, sortable by name, level, monthly change and year-over-year change — just click the column headers to re-sort.
(About the numbers: The Case Shiller indices have a base value of 100 in January 2000. So a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the metro market.)
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