BZ Bread

by George Schils.

Case Shiller home prices through May 2010

Wednesday, August 18, 2010

Case Shiller house price data for data up to May 2010 was just released. The numbers show nothing surprising, and the past trend of once again increasing home prices appears to be continuing nicely. House prices have increased compared to their prices a year ago.

From May, 2009 to May, 2010, monthly home prices have increased 5.40%, whereas From April, 2009 to April, 2010, monthly home prices have increased 4.63%. (This latter number is slightly revised from a previous blog post.)

The 12 month percentage gains appear to be increasing since the number for last month (March) was 3.14%.

We have used the Case Shiller CSXR 10-city composite index in this analysis with non seasonally adjusted data.

The brief table below gives the 12-month home price percentage increases.

January 2010    -0.05
February 2010   1.45
March 2010      3.14
April 2010      4.63
May 2010        5.40

In January home prices were still lower than they were a year ago, and since then they have shown increases compared to the same month of the previous year.