November 29, 2008

Case Shiller Index Tracks Actual Prices of Home Sales

Following the top five markets is the Case-Shiller index. This is an important index to follow because it tracks actual the actual sales price of a property each time it sells. Its a real indication of whether a price for the same property has gone up or down year over year.

S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, shows continued broad based declines in the prices of existing single family homes across the United States, a trend that prevailed since 2007. Note; the top five markets in the Urban Land Institute survey, posted below are commercial markets. The Case Shiller index shows San Francisco off a whopping 29.5%, indicating that perhaps its weighted towards home rather than apartment or commercial property.

1-Year Change (%)
Atlanta - 9.5%
Boston - 5.7%
Charlotte - 3.5%
Chicago -10.1%
Cleveland -6.4%
Dallas -2.7%
Denver -5.4%
Detroit -18.6%
Las Vegas -31.3%
Los Angeles -27.6%
Miami -28.4%
Minneapolis -14.4%
New York -7.3%
Phoenix -31.9%
Portland -8.6%
San Diego -26.3%
San Francisco -29.5%
Seattle -9.8%
Tampa -18.5%
Washington -17.2%
** All markets are down

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Howard Bell

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