Housing: June Case Shiller Index – home prices up 1.4% month over month; down 14.8% y/y
The S&P/Case-Shiller composite indexes of 10 and 20 metropolitan areas both rose 1.4 percent in June from May, almost three times the 0.5 percent increases of the month before. May’s increases were the first in nearly three years.”It is an impressive turnaround. This is a huge, sudden, upward swing,” Robert Shiller, economist at the Yale School of Management, told CNBC in a live interview.
IMO year over year is the real figure to watch and that delta is slowing, finally.
The 10- and 20-city indexes have dropped 54.3 percent and 45.3 percent from their 2006 peaks, respectively.
…S&P also said its U.S. National Home Price Index recorded a 14.9 percent decline for the second quarter, compared with a 19.1 percent year-over-year drop in the first quarter…
Shawn Colvin/Veronica Mars mix courtesy of truemyth
Moderate in the Middle 