Just The Facts — Home Prices Down 4.3% Year-to-Year

by Ken Kappel on December 29, 2011

Every word below is from BusinessInsider.com.

“The October Case-Shiller 20-city home price index missed economists’ expectations, falling 3.4% year-over-year.  Only two cities saw prices increase: Detroit and Washington.

“Month-over-month, the 20-city index fell 0.7% on a seasonally adjusted basis.  This too was worse than the 0.4% decline forecasted by economists.

So, although home prices seem like they’re forming a bottom, they’re still not in the clear.

chart of the day, s&P home prices, dec 27 2011

Ken here. OK one comment. A preponderance of evidence indicates that a bottom IS NOT being formed. Read this blog for more on that.

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