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Case Shiller Housing Composite Flips Negative

For first time in over a decade, the Case Shiller Housing Composite flipped negative;  I'm sure this is utterly meaningless, and is nothing to worry about whatsoever:

"January data released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices in the United States, shows home price composites plummeting into negative terrain.

“The annual declines in the composites are a good indicator of the dire state of the U.S. residential real estate market,” says Robert J. Shiller, Chief Economist at MacroMarkets LLC. “ The 10-City and 20-city Composites are both showing negative annual returns, a striking difference from the 15.1% and 14.7% returns they reported this time last year. The dismal growth in the 10-City composite is now at rates not seen since January 1994.”

S&P/Case-Shiller Home Price Indices

Unless the actual data matters to you, and you are uninterested in becoming a serial bottom caller in Housing.

But other than that, nothing to worry about here . . .

>

Source:
The New Year Begins With Negative Returns According To The S&P Case-Shiller Home Price Indices
Mar 27, 2007 09:00 AM EST PDF
http://www2.standardandpoors.com/spf/pdf/index/032707_homeprice.pdf

S&P/Case-Shiller Home Price Indices

S&P/Case-Shiller Home Price FAQ

Tuesday, March 27, 2007 | 11:30 AM | Permalink | Comments (47) | TrackBack (1)
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Comments

Serial bottom-caller for the housing market sounds like a good career path, with guaranteed employment for at least the next 10 years.

Posted by: jm | Mar 27, 2007 11:30:01 AM