S&P/Case-Shiller: Home Price Double-Dip Looms

Standard and Poors released October S&P/Case-Shiller Home Price Indices this morning. The S&P/Case-Shiller Home Price Indices are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market. Last month David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, got a little more bearish on the outlook for housing after September home price data took another step in the wrong...(read more)

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Source: http://www.mortgagenewsdaily.com/12282010_october_s_p_case_shiller.asp

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