The median price data had indicated some home price stabilization through March, but the latest release of the Case-Shiller index suggests otherwise. I’ll talk a bit more below about the strengths and weaknesses of the CS index, but first let’s have a look at the latest data.
The media has made much of the fact that the national Case-Shiller index hit a new post-boom low, officially ushering in a “double dip” in nationwide home price. But while San Diego prices did drop in March, the CS index indicates that we still held up above those 2009 lows:
Zooming out to the entire post-boom period starting in late 2005, however, it’s clear that we aren’t substantially above the lows in the grand scheme of things: