Periodically, its good to put recent price changes into perspective by zooming out and looking at a longer time period. A lot of the headline numbers today are talking about Las Vegas price changes and while year-over-year and month-to-month changes can be important and useful a little more context about where we have come is interesting.The charts below update our previously published exhibits that note key points of interest along the time series. Generally, prices have been increasing in a relatively s... read more
Yesterday, Standard & Poor's released the S & P/Case-Shiller home price indices. Major news outlets were all over the place when quoting these. Some said it went up, some down, some sideways. I would like to highlight a few features of these indices:
-There are seasonally adjusted and non-adjusted indices. Standard & Poor's, in a technical bulletin, recommends against using the seasonally adjusted series because it can misinterpret variations in the choppy real estate markets with seasonality.
-S &a... read more