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 clearly appear to have topped out as the peak summer activity is firmly established.
The latest data shows that as of mid-August, prices have declined 4.52% below the level seen in August 2010 while continuing to turn down from a seasonal peak reached in mid-June.
With the spring/summer selling season now complete and sliding prices now registering with regularity, 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.
