Data through February 2012, released Tuesday by S&P Indices for its S&P/Case-Shiller Home Price Indices showed annual declines of 3.6 percent and 3.5 percent for the 10- and 20-City Composites, respectively. This is an improvement over the annual declines of 4.1 percent and 3.9 percent posted in January, respectively. In addition to the two Composites, 15 of the 20 MSAs posted better annual returns in February compared with January.  Five of the 20 MSAs saw positive annual returns.

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Data through January 2012, released this week by S&P Indices for its S&P/Case-Shiller Home Price Indices showed annual declines of 3.9 percent and 3.8 percent for the 10- and 20-City Composites, respectively. Both composites saw price declines of 0.8 percent in the month of January. Sixteen MSAs also saw home prices decrease over the month.  Eight MSAs and both composites posted new index lows in January. The 10- and 20-City Composites recorded marginal improvements in annual returns over December 2011 when they each posted declines of 4.1 percent. In addition to the composites, Dallas, Denver, Miami, Minneapolis, New York, Phoenix, San Diego, Seattle, Tampa, and Washington D.C. saw their annual rates improve compared with December; while nine of the MSAs saw their annual returns worsen compared with what was reported for December 2011.

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The S&P/Case-Shiller national composite fell by 3.8 percent during the fourth quarter 2011 and was down 4 percent compared with the fourth quarter 2010. Both the 10- and 20-City Composites fell by 1.1 percent in December compared with November, and posted annual declines of 3.9 percent and 4 percent versus December 2010, respectively. With this latest data, all three composites are at their lowest levels since the housing crisis began in mid-2006.

In addition to both Composites, 18 of the 20 MSAs saw monthly declines in December compared with November.

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The S&P/Case-Shiller Home Price Indices showed declines of 1.3 percent for both the 10- and 20-City Composites in November compared with October. For a second consecutive month, 19 of the 20 cities covered by the indices also saw home prices decrease. The 10- and 20-City Composites posted annual declines of 3.6 percent and 3.7 percent versus November 2010, respectively.

“Despite continued low interest rates and better real GDP growth in the fourth quarter, home prices continue to fall. Weakness was seen as 19 of 20 cities saw average home prices decline in November over October,” said David M. Blitzer, chairman of the Index Committee at S&P Indices. “The only positive for the month was Phoenix, one of the hardest hit in recent years. Annual rates were little better as 18 cities and both Composites were negative. Nationally, home prices are lower than a year ago.”

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Los Angeles Times - Home prices in the nation’s largest cities fell in October for the second straight month, according to the Standard & Poor’s/Case-Shiller index.

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Data through September 2011, released yesterday by S&P Indices for its S&P/Case-Shiller Home Price Indices show that nationally home prices did not register a significant change in the third quarter of 2011, with the U.S. National Home Price Index up by only 0.1 percent from its second quarter level. The national index posted an annual decline of 3.9 percent, an improvement over the 5.8 percent decline posted in the second quarter. Nationally, home prices are back to their first quarter 2003 levels.

As of September 2011, the annual rate of change in 14 of the 20 MSAs and both Composites, covered by S&P/Case-Shiller Home Price Indices, improved versus August. Atlanta, Las Vegas, Los Angeles, San Francisco, Seattle, and Tampa recorded lower annual declines in September compared with August. Detroit and Washington, DC were the only two MSAs to post positive annual rates of 3.7 percent and 1.0 percent, respectively.

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The S&P/Case-Shiller 10- and 20-City Composites both increased 0.2 percent in August compared with July.  On an annual basis, the 10- and 20-City Composites posted declines of 3.5 percent and 3.8 percent, respectively.

“There was some weakness in the monthly statistics, as 10 of the cities posted price declines in August over July,” says David M. Blitzer, Chairman of the Index Committee at S&P Indices. “And even though the annual rates are largely improving, 18 MSAs and both Composites are still negative. Nationally, home prices are still below where they were a year ago. The 10-City Composite is down 3.5% and the 20-City is down 3.8% compared to August 2010.”

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Data through July 2011 for the S&P/Case-Shiller Home Price Indices showed a fourth consecutive month of increases for the 10- and 20-City Composites, with both up 0.9 percent in July compared with June.

The 10- and 20-City Composites recorded annual declines of 3.7 percent and 4.1 percent, respectively.  However, both Composites saw their annual rates improve in July compared with June.

“While we have now seen four consecutive months of generally increasing prices, we do know that we are still far from a sustained recovery,” said David M. Blitzer, Chairman of the Index Committee at S&P Indices.  “Eighteen of the 20 cities and both Composites are showing that home prices are still below where they were a year ago.  Continued increases in home prices through the end of the year and better annual results must materialize before we can confirm a housing market recovery.“

As of July 2011, average home prices nationwide are back to summer 2003 levels.  Measured from their June/July 2006 peaks through July 2011, the peak-to-current declines for the 10-City Composite and 20-City Composite are -31 percent and -30.9 percent, respectively. The peak-to-trough declines are -33.5 percent and -33.4 percent, respectively.

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