Home prices continue to slump
As I have noted in the past, since the home price index data provided by is more timely, unadjusted and un-smoothed it is particularly useful for gaining deeper visibility over our housing markets.
As for the latest trends, it鈥檚 important to note that the 25-MSA Composite is continuing to show significant year-over-year declines with prices breaking to new lows with each passing day.
The latest data shows that as of early-February, prices have declined 4.43% below the level seen in February 2011 continuing the slump through the winter months in a similar manner to past years while likely just reaching the lows of the season.
Look for future reports to indicate flat pricing as the data moves into the more active spring months leading to a new seasonal upswing as we approach early summer.
