Data just out on the S&P/Case-Shiller Home Price Indices. Home prices in the 20 major city markets tracked fell 0.7% in September from the month earlier. In Boston non-seasonally adjusted home prices fell 1.3% from August to September — but managed to remain ever-so-slightly up year-over-year (at +0.4%). Boston is one of the very few cities to remain positive year-on-year, but I wouldn’t take bets on the 4th Q data coming out on the plus side. Price drops accelerated for most of the 20 cities tracked in the third quarter. See the double-dip in the chart below.
Here’s the links with all the details:
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