The S&P CoreLogic
Case-Shiller index of property values improved slightly while home-price growth nationally moderated compared to May of last year, according to data released last week.
Nationally, 14 of 20 cities showed slower home price gains, according to the S&P CoreLogic
Case-Shiller Index.
The
Case-Shiller index for home prices in 20 leading US cities fell 0.1 per cent in December, the second straight monthly decline, while the Conference Board said its consumer confidence index fell to 78.1 in February from 79.4 in January.
The
Case-Shiller index has gained acceptance and popularity to the point that its monthly release is one of the most watched, followed and talked about among all of the periodic economic releases.
A further 5 percent decline, not much larger than the
Case-Shiller index measured for the first quarter, would push that percentage to 28 percent.
The
Case-Shiller index measures sales of select homes in those cities compared with January 2000.
Unlike FHFA, which covers the entire country and reports the smallest decline, the
Case-Shiller Index includes only 20 major metropolitan areas, most ofwhich experienced the brunt of the housing turmoil (markets where the boom was greatest and the bust has been the deepest), and therefore tends to depict the greatest variation in the total change.
The FHFA index shows prices actually improving in February, while the
Case-Shiller index, which is narrower than the FHFA index in terms of geographic coverage but also includes nonconforming loans which the FHFA index leaves out, simply has prices falling at a slower pace.
economic news, the
Case-Shiller index of home prices rose 10.8 percent in April from the year earlier, and 1.1 percent from the prior month.
The monthly
Case-Shiller index of city housing prices showed that prices rose a seasonally adjusted 1.2 percent in the 20 biggest urban markets, a fresh sign of recovery in the housing market.
One of the more closely watched indicators of residential housing activity is the Standard & Poor's S&P
Case-Shiller index, which tracks housing prices in select markets across the country.