San Diego Housing Market News and Analysis
Case-Shiller: Prices Up But Still Near Bottom
Submitted by Rich Toscano on October 7, 2012 - 2:39pm
The Case-Shiller home price index is the most accurate measure of aggregate prices, and as such it is great for long-term comparisons. It also provides a useful distinction by breaking the price data into three tiers of expensiveness.
The downside is that numbers are very "stale." The recent September release, for example, only has price data through July, and that figure actually is calculated from sales that took place as early as May.
Because I haven't done much in the way of long-term comparisons, and because there was little of interest in the tiered data (all three price tiers have been acting very similar to one another), I haven't done a CS update in a while. Let's check in on the most recent numbers.
The recent increase in prices that I've been occasionally documenting is clear in this chart of prices since the post-crash (aggregate) bottom in 2009. For the year-to-date throguh July, the aggregate index is up a bit over 5 percent, and the low, mid, and high price tiers are all up similar amounts:
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