Tuesday, March 27, 2012

Standard & Poor's/Case-Shiller Home Price Indices - January 2012

The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through January 2012 -- was released this morning.  S&P methodology shows a rise in Washington metropolitan *area* home prices as value continued to drop nationwide.

  • Washington area - Month-over-month Washington DC was one of only three cities that recorded positive gains -- up 0.7% in January 2012 over December.
  • Nationwide - U.S. home prices, showed annual declines of 3.9% and 3.8% for the 10- and 20-City Composites, respectively. Both composites saw price declines of 0.8% in the month of January.

According to the S&P/Case-Shiller 2011 Year in Review  -- released March 16th -- single-family home prices in Washington, DC increased 8.4% from market bottom in 2009 and are about 80% above their 2000 levels.

When reviewing the S&P/Case-Shiller data keep in mind:

  • Report Date - These numbers are for January 2012.  The S&P/Case-Shiller Home Price Indices are published on a two month lag to offset delays in sales price data from county deed recorders.
  • Property Type - The index reports single-family/detached home prices only; condo and co-op sales statistics are not included in the analysis.

S&P methodology defines the Washington metropolitan area as including parts of three states and the District of Columbia:

  • Washington, DC
  • Maryland - Calvert, Charles, Frederick, Montgomery, and Prince Georges.
  • Virginia - Alexandria City, Arlington, Clarke, Fairfax, Fairfax City, Falls Church City, Fauquier, Fredericksburg City, Loudoun, Manassas City, Manassas Park City, Prince William, Spotsylvania, Stafford, Warren.
  • West Virginia - Jefferson.

No comments:

Post a Comment