U.S. August Home Prices Small but Noteworthy Improvement
Housing-Market / US Housing Oct 26, 2011 - 05:26 AM GMTBy: Asha_Bangalore
The seasonally adjusted Case-Shiller Price Index held steady in August compared with July. On a year-to-year basis, the index fell 3.8%, the smallest decline since February 2011. The FHFA House Price Index of August dropped 4.0% from a year ago, the smallest reduction since December 2010.
The decelerating trend of both home price indexes suggests that home prices are stabilizing, albeit gradually in small magnitudes. However, the large supply of foreclosed property presents a challenge and bodes poorly for a rapid improvement of home prices.
Asha Bangalore — Senior Vice President and Economist
http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.
Copyright © 2011 Asha Bangalore
The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.
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