By improved, prices continue to slide year over year, but at a slower rate. Monthly prices show modest gains.
Year over year, the 10-City and 20-City Composite Home Price Indices declined 10.6% and 11.3%, respectively, in August. The indices gained 1.3% and 1.2% from July.
Note that Goldman Sachs estimates that the US Government interventions and bailouts have pushed housing prices 5% higher. click for larger graphic
click for bigger graphics
Source: Home Prices Continue to Improve S&P/Case-Shiller Home Price Indices, October 27, 2009 http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/2,3,4,0,0,0,0,0,0,0,0,0,0,0,0,0.html
Uncle Sam Adds 5% to Prices of Homes, Goldman Says James R. Hagerty WSJ, October 24, 2009, 9:11 AM ET http://blogs.wsj.com/developments/2009/10/24/uncle-sam-adds-5-to-prices-of-homes-goldman-says/
Originally published at The Big Picture and reproduced here with the author’s permission.