Tuesday, September 13, 2011

Radar Watching: July 2011

As I have noted in the past, since the home price index data provided by Radar Logic 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’s important to note that the 25-MSA Composite is continuing to show significant year-over-year declines and after having broken well below the low set in March of 2009 (double-dipping) earlier this year and then rising throughout the spring/summer selling season, now trends appear to be topping out as the peak summer activity draws to a close.

The latest data shows that as of mid-July, prices have declined 4.70% below the level seen in July 2010 while turning down from a seasonal peak reached in mid-June.

With the spring/summer selling season now complete there is nowhere for prices to go but down. Look for a declining trend to continue to materialize and likely run into March or April of 2012.