Weakening Home Prices Are Not a Signal for 2008 Reboot

Posted To: MND NewsWire

The S&P CoreLogic Case-Shiller U.S. National Home Price Index for August showed an annual appreciation rate that was lower than 6.0 percent for the first time in a year. The rate fell from 6.0 percent in July to 5.8 percent in the index which covers all nine U.S. census districts. On a month-over-month basis the National Index was up 0.2 percent on a non-seasonally adjusted basis and was 0.6 percent higher than in July when seasonally adjusted. The 10-City Composite Index dropped from an annual gain of 5.5 percent in July to 5.1 percent in August while the 20-City Composite declined to 5.5 percent from 5.9 percent. On a monthly basis both indices were unchanged from their July readings on a non-seasonally adjusted basis, but each rose 0.1 percent after adjustment. Twelve of the 20 cities...(read more)

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