by George Schils.
Tuesday, September 29, 2009
Home prices increased by 1.65% from June 2009 to July 2009, according to recent Case Shiller data.
The table below shows detailed data for the last seven months. The second column is the increase percentage for the same month one year ago. Column 4 is the monthly percentage increase. A new calculation is column 3, which is a kind of second derivative of the CSXR value - this is the home price acceleration. This is calculated as the difference between the yearly home price increases: the July 2009 acceleration is calculated as -15.07 - -12.77 = 2.30. In other words, the numbers for the year to year increases although still negative are increasing at an increasing rate.
January 2009 -19.44 -0.21 -2.55
February 2009 -18.88 0.55 -2.12
March 2009 -18.62 0.26 -2.04
April 2009 -17.96 0.66 -0.68
May 2009 -16.76 1.20 0.47
June 2009 -15.07 1.69 1.45
July 2009 -12.77 2.30 1.65
These numbers are for the CSXR 10-city index. Most media reports are for the 20-city index, so the results here are an interesting companion to other popular media reports.
From column 3 it is clear that home prices have accelerated for six months straight, and the acceleration is increasing.
Home prices are still lower than they were a year ago (by 12.8%) but at the same time home prices are accelerating.
BZ Bread
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