Thursday, February 7, 2008

How Low Will it Go?

I find it amazing to see how far off the highs the home prices have fallen in their respective markets. Around here, all the hobos are taking bets on the rates of decline. Take a look at the charts below and see how your area is faring.

The S&P/Case-Shiller® Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States.

These indices use the repeat sales pricing technique to measure housing markets. First developed by Karl Case and Robert Shiller, this methodology collects data on single-family home re-sales, capturing re-sold sale prices to form sale pairs.

This index family consists of 20 regional indices and two composite indices as aggregates of the regions. The S&P/Case-Shiller Home Price Indices are calculated monthly and published with a two month lag.

New index levels are released at 9am Eastern Standard Time on the last Tuesday of every month. In addition, the S&P/Case-Shiller® U.S. National Home Price Index is a broader composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly.

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