Case-Shiller: Home prices down slightly in November(Read article summary)
Home prices declined a slight 0.17 percent in November 2012, according to the S&P/Case-Shiller (CSI) home prices indices.
Today's release of the¬†S&P/Case-Shiller (CSI) home price indices¬†for November reported that the non-seasonally adjusted Composite-10 price index declined a slight 0.17% since October while the Composite-20 index declined 0.09% over the same period.¬†
The latest CSI data clearly¬†demonstrates¬†that the typical seasonal pattern is continuing to play with price weakness coming as a result of lower transactions. ¬†If this trend continues, prices should continue to decline into the February-March release in advance of the typical uplift from the more active spring transactions.
It's important to recognize though that on a year-over-year basis, nominal prices remain in positive territory possibly indicating that this seasons seasonal weakness may minor compared to recent years.¬†
The 10-city composite index increased 4.54% as compared to November 2011 while the 20-city composite increased 5.52% over the same period.¬†
Both of the broad composite indices show significant peak declines slumping -30.05% for the 10-city national index and -29.39% for the 20-city national index on a peak comparison basis.¬†
To better visualize today‚Äôs results use¬†Blytic.com to view the full release.