Oops! It appears that you have disabled your Javascript. In order for you to see this page as it is meant to appear, we ask that you please re-enable your Javascript!

Case Shiller Home Prices – May 2015

Case-Shiller reports surprising weakness in home prices, at minus 0.2 percent in May. Year-on-year, prices are flat at plus 4.9 percent which is 3 tenths below the low estimate. The data include a sizable downward revision to April which is now unchanged from an initial gain of 0.3 percent.

Declines are widespread, hitting 12 of 20 cities including a second straight decline, at a steep minus 0.7 percent in May, for the usually very strong San Francisco. Chicago, down 0.9 percent in the month, is also down for two straight months. Year-on-year, Denver is out in front at plus 10.0 percent followed by San Francisco at plus 9.7 percent and Dallas at plus 8.4 percent. Washington DC is at the bottom of the list at plus 1.3 percent and Cleveland at plus 1.6 percent.

This report contrasts a bit with the FHFA house price report where prices have continued to climb, though slowly, and where the year-on-year rate for May is slightly stronger at plus 5.7 percent. But together, they point to price concessions which likely helps explain the solid strength of existing home sales in May and June.

By |2015-07-28T14:59:19+00:00July 28th, 2015|Categories: Lagging|0 Comments

About the Author:

Bryan Sanford is Vice President and Investment Officer of Charter Trust Company. He joined the firm in 2009 and is based in our Concord NH office. Mr. Sanford received his Bachelors of Science degree from the University of New Hampshire, Durham. Mr. Sanford has held the FINRA Series 7 license. Prior to joining Charter Trust, Mr. Sanford served in the United States Marine Corps as an infantryman. He participated in Operation Iraqi Freedom, touring in Fallujah, Iraq.

Leave A Comment