The last few Case-Shiller reports have shown sequentially increasing home prices, but this could come to an end when the new numbers come out tomorrow. (Or, more likely, next month, when the September numbers are finally reported).
The Altos Research 10-City Composite Index is down 1.1% for the third quarter of 2009.
From our October 2009 Real-time Housing Report, The Altos Research 10-City Composite Index was down by 0.5% in September and 1.1% during the third quarter.
Using the housing market ask prices and more specifically, looking at the ask prices of new sellers entering the market each week, it’s clear that new sellers are viewing the market more pessimistically than sellers entering the market during the Spring. This would make sense because of the clear seasonality in the national housing market.
Existing sellers are starting to show more pessimism as well, as the number of active listings with price reductions is starting to show signs of increasing this Fall. This value stabilised in July and is stabilizing again this Fall. Read the whole thing >