S&P Case-Shiller Home Price Index for September 2009 Shows More Improvement
Posted by Gregg Killoren on November 24, 2009
The S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, recorded an 8.9 percent decline in the third quarter of 2009 versus the third quarter of 2008. This is a marked improvement over the 14.7 percent decline in the annual rate of return reported in the second quarter of 2009, and the 19.0 drop in the first quarter. The 10-City and 20-City Composites recorded annual declines of 8.5 percent and 9.4 percent, respectively. These two indices, which are reported at a monthly frequency, have generally seen improvements in their annual rates of return every month since the beginning of the year.
Nationally, the U.S. National Composite rose by 3.1 percent in both the 2nd and 3rd quarters of 2009. Both the 10-City and 20-City Composites posted their fifth consecutive monthly increase with September’s report. Earlier some analysts voiced concern that the end of the first-time home buyer program would result in a drop in activity. While housing starts did slip in October, the federal government recently extended and expanded the first-time homebuyer tax credit.
I have updates the “Housing Statistics” page on the menu bar above, so please click on the page to view additional statistics for the September report along with a breakdown of previous months.
In addition, you may click the following link to view the full S&P Case-Shiller press release:
S&P Case-Shiller Home Price Index
