According to the Case-Shiller Index, home values fell in 19 of 20 tracked markets in November 2011.
The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.
Standard & Poor’s released its September 2011 Case-Shiller Index this week. The index tracks home price changes in select cities between months, quarters, and years. The Case-Shiller Index for September showed drastic devaluations nationwide.
Since bottoming out in March of this year, the Case-Shiller Index is up nearly 4 percent.
The most recent Case-Shiller Index shows a 0.9% rise in home values from June to July 2011. Home values were higher in 17 of the 20 tracked cities.
The June 2011 Case-Shiller Index reading posted strong numbers across the board, with each of the index’s 20 tracked markets showing home price improvement from May.
Overwhelmingly, home values fell in the 20 markets tracked by the Case-Shiller. Only San Diego showed a modest increase. The other 19 markets averaged a 1.23 percent decline between January and February. However, that’s not the story you read in the most papers.
More positive signals from housing — home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six months.
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