No signs of catastrophe in housing market

Scott Grannis at Calafia Beach Pundit notes that the Case Shiller Home Price Index continues to show strength or at least stability in housing prices:

The Case Shiller Home Price Index for 20 major metropolitan markets hit bottom in the second quarter of last year and has been rising gradually ever since. Given the lags used in constructing the index, this means that prices likely hit bottom around March of last year. Even after adjusting for inflation, as this chart shows, home prices are up at a 3% annualized rate over the past 8 months.

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2 Comments on “No signs of catastrophe in housing market”

  1. Don says:

    Gee – isn’t that when the Obama homebuyer tax credit kicked in? What would happen to this chart if you indexed for that, I wonder…

  2. Dr. Duru says:

    Interesting – Home Depot adding net jobs for first time in 4 years: http://www.bloomberg.com/bb/n/aN6774xtWuyA. This is a positive sign for the economy, jobs, and housing prices I would think. Momentum seems to be building (no pun intended!)


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