The Latest from Case-Shiller "We are at 2003 Price Levels"

The S&P Case Shiller report came out this week and showed that while prices are up since their low in March of this year, prices in general for the 20 Metropolitan Statistical Area (MSA's) are at 2003 levels. The shocking national indices show prices are down an average of 32.1 percent since their mid-2006 peak.  
 
Although consumer confidence is at its highest level since April, home prices have registered a 3.4 percent decline for the year as of October. The New York area MSA once again fared better than the majority of cities indexed, and  showed only a -2.0 annual change from last year. Our area still remains at one of the highest rates at  168.12, and is second only to the Washington D.C area. The worst area decline over last year was in Atlanta with a -11.7 percentage annual return.

The Standard & Poor's Case–Shiller Home Price Indices are constant-quality house price indices for the U.S.. There are a number of Case–Shiller home price indices: A national home price index, a 20-city composite index, a 10-city composite index, and twenty individual metro area indices. The indices are calculated from data on repeat sales of single-family homes, which was developed by economists Karl Case, Robert Shiller and Allan Weiss. Our area of Fairfield County is located on the perimeter of the New York City Metropolitan Statistical Area (MSA).

The S&P/Case-Shiller Home Price Indices are calculated monthly using a three-month moving average and published with a two month lag time. New index levels are released at 9 am on the last Tuesday of every month. More about Case Shiller

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