Tuesday, December 29, 2009

Case Shiller Price Index - October 2009

From Case Shiller's Press Release:
“The turn-around in home prices seen in the Spring and Summer has faded with only seven of the 20 cities seeing month-to-month gains, although all 20 continue to show improvements on a year-over-year basis. All in all, this report should be described as flat.” says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s.
As of October 2009, average home prices across the United States are at similar levels to where they were in the autumn of 2003. From the peak in the second quarter of 2006 through the trough in April 2009, the 10-City Composite is down 33.5% and the 20-City Composite is down 32.6%. With the relative improvement of the past few months, the peak-to-date figures through October 2009 are -29.8% and -29.0%, respectively.
Prices declined in 12 of the 20 Case-Shiller metropolitan areas, and were flat in New York.

Case-Shiller House Price Graphs for October (Calculated Risk Blog)

In the Washington, DC area prices were fell -.4% (not seasonally adjusted) in October compared to September; Annually prices have declined -2.8%. I expect small price declines during over the winter months in the DC area.


  1. Anyone know what the seasonally adjusted number was for DC? I suspect it was still up.

  2. Yes - its up +0.2% on a seasonally adjusted basis.

  3. On a personal note, I just looked at my trieneial tax assesment from the state (MD) and my house has gone from $317,960 to $221,600. Woo Hoo! -Jim A

  4. Great Jim!!!

    That means I will buy your neighbors house for $150K next year! I will save on my taxes and mortgage! Everyone wins!

  5. Sadly, that isnt the way it is working out in the immunozone. The tax assessment on the house I want to buy for the past 10 years.

    2000 - 267,500
    2001 - 293,000
    2002 - 342,000
    2003 - 423,000
    2004 - 505,800
    2005 - 586,100
    2006 - 688,000
    2007 - 688,000
    2008 - 701,000
    2009 - 694,300
    2010 - 698,700

    Sigh - well I guess theres always next year...

  6. yeah anon,
    If the tax assessment is too high for the block you want to buy on, buy 1 mile down the street for 1/100th of those prices. "Immunizone" as they like to say is only a couple of streets. Tiger Woods house is pretty expensive in FL, but the rest of the state is the cheapest realestate one could possibly buy in the entire country!!!

  7. Bring back "A Redskins Fan"! I miss that guy - he was hilarious.

  8. "Sadly, that isnt the way it is working out in the immunozone."

    Couldn't you just move to the next alphabet street over? A city block or two cant be all that appealing.