Housing Double-dip is Here: Case-Shiller
Written By: Bob Adelmann | Posted: Tuesday, March 15th, 2011
One of the most-watched and highly regarded indices giving direction to the housing market is the S&P/Case-Shiller Home Price Index published every month. Its January report provides the clearest evidence so far that housing prices are continuing to fall and in fact may represent a significant double-dip in the housing market into 2011.
Prices declined in November in 17 of the 20 Metropolitan Statistical Areas (MSAs) tracked by Case-Shiller, marking "the sixth consecutive month where the annual growth rates moderated from their prior month's pace," as noted in the report. The same decline showed up in the report's analysis of its 10-city composite as well, since May 2010, indicating "an unambiguous deceleration of home price returns." As David Blitzer, chairman of the Index Committee explained:
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