Home Price Index Update Shows Double Dip

“The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone.”

The S&P Case Shiller Home Price index was updated yesterday with data through March 2011, or 2011 Q1. Here is the press release [PDF]. Here is the chart:


Click to enlarge. Sources: S&P Indices

Nationally, home prices are back to their mid-2002 levels. This means that any run-up in home prices between 2002 and the 2006 peak has been erased. On average home prices are selling at the same value they were nine years ago and are 34% below their 2006Q2 peak.

I feel like this whole thing is still going to take a while to fully unwind.




User Generated Content Disclosure: Comments and/or responses are not provided or commissioned by any advertiser. Comments and/or responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

Comments

  1. A double dip is in the worse nightmare of so many people. Housing or stocks no longer deemed safe. Is it now once again cash is king? Or should we hold on to our golds, if we were smart enough to buy some before $800/oz?

Speak Your Mind

*