Comments on: S&P/Case-Shiller Home Price Index

By: djackson

djackson — Tue, 29 Sep 2009 20:13:16 +0000

A housing turnaround does not commence with a picture like this:
1.45
1.57
1.72
1.89
2.13
2.42
2.77
2.96
3.15
3.42
3.68
3.94
4.17
These are the monthly ‘serious’ delinquency rates (7/08-7/09) reported this morning by FNMA which got little press play. The pipeline to foreclosure is still growing in prime land. So foreclosure/short sale pressure is going to remain for some time. The numbers look even worse for ‘credit enhanced’ borrowers, the folks required to obtain PMI because they possess insufficient funds for a standard down payment.
3.97
4.26
4.68
5.12
5.69
6.42
7.24
7.7
8.17
8.79
9.6
10.25
10.83
Oh, yeah, real stability can be read into these numbers. And the option arm bomb has not even remotely detonated yet.

By: TheTradingReport » Blog Archive » Case-Shiller Gives Upbeat Outlook; MacroShares ETFs on the Move

Tue, 29 Sep 2009 19:20:47 +0000

[...] prices in the U.S., as measured by the S&P Case-Shiller home price indexes, rose in July over the previous month, as 18 of the 20 metropolitan areas comprising the benchmark saw saw a [...]

By: Novemberrain

Novemberrain — Tue, 29 Sep 2009 18:45:40 +0000

Housing boosters have forecast turnarounds repeatedly since the market peaked in 2006, only to be proven wrong by plunging prices. And skeptics say they’re wrong again now. They argue that a deeply indebted consumer, a weak job market, expiring incentives and rising foreclosures spell a quick end to any housing rebound. Read more. http://www.housingnewslive.com/us-housing-news-articles.php

By: Pete from CA

Pete from CA — Tue, 29 Sep 2009 18:45:00 +0000

“Sales go up every summer”

Yeah, but it’s y/o/y. I would think if it’s summer now then it was summer a year ago, too…

I looked at some of the data points on the S&P site and there isn’t much difference between the SA and NSA data to start with. The difference in y/o/y seems to be about zero.

By: Case-Shiller Gives Upbeat Outlook; MacroShares ETFs on the Move » Top Equity News -

Tue, 29 Sep 2009 18:39:18 +0000

[...] prices in the U.S., as measured by the S&P Case-Shiller home price indexes, rose in July over the previous month, as 18 of the 20 metropolitan areas comprising the benchmark saw saw a [...]

By: Case-Shiller Gives Upbeat Outlook; MacroShares ETFs on the Move | Reaction Radio

Tue, 29 Sep 2009 18:07:59 +0000

[...] prices in the U.S., as measured by the S&P Case-Shiller home price indexes, rose in July over the previous month, as 18 of the 20 metropolitan areas comprising the benchmark saw saw a [...]

By: The Window Washer

The Window Washer — Tue, 29 Sep 2009 15:40:04 +0000

“Why is it important that this y/o/y data is not seasonally adjusted?”

Sales go up every summer and drop in the winter. Look at the same month the previous year on the Case/Shiller. It comes out in Excel on the S&P site.

http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,4,0,0,0,0,0.html

By: Pete from CA

Pete from CA — Tue, 29 Sep 2009 14:57:52 +0000

“Every city still has y/o/y declines led by Las Vegas and Phoenix. This data is not seasonally adjusted”

Why is it important that this y/o/y data is not seasonally adjusted?