Case-Shiller Adds to Confusion on Housing Market
Tuesday’s latest home-price reading shows that momentum slowed at the end of 2009 for the housing market, adding to the confusion about where prices are headed from here. The S&P/Case-Shiller 20-city composite index in December fell 0.2% from November, but after adjusting for seasonal factors, home prices were up 0.3%. That was the same change that the index showed in November. Fifteen of 20 markets tracked by the index showed monthly declines, though the battered Southwest fared well. Las Vegas had its first monthly gain in more than three years (and today’s story helps to explain why conditions there have improved), while Los Angeles led the nation with a 1% monthly increase. Today’s Ahead of the Tape column takes a look at how some of the worst-case scenarios from last year’s bank stress…(read more)
Related posts:
