Case-Shiller: Given the economy, housing should be doing better

By Jann Swanson | Mortgage News Daily

Both the S&P Dow Jones Indices and home price indicators from the Federal Housing Finance Agency (for March continue to show slowing appreciation although there also continue to be significant regional differences. 

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S census divisions, reported a 3.7 percent annual gain in March, down from 3.9 percent in the previous month. Before seasonal adjustment, the National Index posted a month-over-month increase of 0.6% in March, jumping from an 0.2 percent gain in February, but after seasonal adjustment, there was no change from the 0.3 percent increase posted in February.

The annual increase in the 10-City Composite was 2.3 percent compared to 2.5 percent in March while the 20-City Composite increased 2.7 percent, down from a 3.0 percent rate of appreciation the prior month.  Both composites posted identical month-over-month changes, 0.7 percent before seasonal adjustment and 0.1 percent afterward.  Nineteen of 20 cities posted positive changes on an unadjusted basis and 14 of 20 cities after adjustment.

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