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S&P Case-Shiller Home Price Index: Graph of the Week 6/25/2012

The Graph of the Week shows the Case-Shiller Home Price Index for five of the twenty metropolitan areas that are tracked by the service. The indices are set for January 2000= 100.

Case-Shiller Home Price Index

Note that three of these metro areas have prices in March 2012 very close to where they were in January 2000. For two of them, it is not a sign of stability, for both Phoenix (blue) and Las Vegas (purple) zoomed up to over 225 in the midst of the housing boom before falling back to earth. If you had bought your house before 2000, it was a paper profit lost. However, if you bought (or refinanced) mid-decade, you are in a heap of trouble. Cleveland (orange) never got above 123.

Los Angeles (red) had the biggest climb of these five cities, and managed to pull out of its dive while still keeping some gains. Detroit (green) had a gain about the size of Cleveland, but kept on going down - where it is currently at 66. You can get all 20 metro series (plus a composite index), as well as information on how the indicies are constructed, at the S&P Case-Shiller site.

 

 

Graph of the Week Index

 

 

 

 

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