CASE-SHILLER: Home Prices Slide 3.3% In February, As Double Dip Continues

The number:

There was a slight decline sequentially, and on a year over year basis, home prices fell 3.3% in February on the 20-city composite.

Not a dramatic worsening from the January number, but no hint of a rebound just yet.

Here’s the summary from S&P:

Data through February 2011, released today by S&P Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show prices for the 10- and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom. The 10- City Composite fell 2.6% and the 20-City Composite was down 3.3% from February 2010 levels. Washington D.C. was the only market to post a year-over-year gain with an annual growth rate of +2.7%. 10 of the 11 cities that made new lows in January 2011 saw new lows again in February 2011. Detroit avoided another new low, managing a +1.0% increase in February over January, the only city with a positive monthly change. With an index level of 139.27, the 20-City Composite is virtually back to its April 2009 trough value (139.26); the 10-City Composite is 1.5% above its low.


Background: This number just keeps sliding, and analysts are expecting another 3.2% slide in February prices. Yet, it’s a laggy number, and some housing data has come in a bit firm lately. But it’s the gold standard of housing prices.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

housing moneygame-us