Tuesday, August 26, 2008

Housing Update

As I reported last month here, the housing the worst of the housing situation is over. Case-Shiller released their monthly data and it showed things to look even rosier than before. Lazy journalists looking to shock use the year-over-year numbers. Looking at monthly numbers things look better. Below is the month-to-month percentage change. The latest month is in red.

Prices are still declining overall in the areas that they measure, but the fall is getting less and less.

This month 9 of the 20 markets saw increases in home prices, which is up from 7 last month. Which is also up from 0 of 20 six months ago.

The markets that look like they still have more declines to go are: Phoenix, Los Angeles, San Diego, San Fracisco, Washington D.C., Miami, Tampa, and Las Vegas. Detroit actually looks like it has hit bottom with only a slight decline this month.

No comments: