Fun, or Lack Thereof, With the Case-Shiller Index
Nothing too exciting happened in the latest release of the Case-Shiller San Diego home price index. Unless the lack of a noticable decline qualifies as exciting. Which I suppose it kind of does, given the context.
The aggregate price index for San Diego County declined a mere .1 percent between March and April, the latest month measured. The stabilization is no big surprise considering the strength in other price measures and the run on inventory currently underway.
Kelly has written a good summary of the latest Case-Shiller release as well as a longer piece on the state of the market, both with lots of words and full sentences as you might expect from an actual journalist. Below: charts. Due to the relative non-movement of the index I will spare you the usual excess of charts and just focus on a few of the major ones.
First, changes by percent to the three price tiers and the aggregate index since the start of the data:
Second, the percent change since each tier's peak:
And finally, the running year-over-year rate of change, which (while still firmly negative) sported another big improvement in April:
-- RICH TOSCANO
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