As I demonstrated in prior posts, given their strong correlation, the home price indices provided daily by Radar Logic, averaged monthly, can effectively be used as a preview of the monthly S&P/Case-Shiller home price indices.The current Radar Logic 25 MSA Composite data reported on residential real estate transactions (condos, multi and single family homes) that settled as late as February 22 indicates that the price bounce seen as a result of the government's housing tax credit peaked in August and has since steadily trended down with the latest data dropping .73% since January.
Look for tomorrow's S&P/Case-Shiller home price report to reflect essentially the same trend showing generally declining prices and potentially another strike at last years cycle low.
