{"id":489351,"date":"2010-03-30T10:06:35","date_gmt":"2010-03-30T14:06:35","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/03\/30\/a-look-at-case-shiller-by-metro-area-march-update\/"},"modified":"2010-03-30T10:06:35","modified_gmt":"2010-03-30T14:06:35","slug":"a-look-at-case-shiller-by-metro-area-march-update","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/489351","title":{"rendered":"A Look at Case-Shiller, by Metro Area (March Update)"},"content":{"rendered":"

The S&P\/Case-Shiller<\/strong> 20-city home-price index, a closely watched gauge of U.S. home prices, was mostly flat in January from a month earlier.<\/p>\n

The index declined 0.7% from a year earlier. On a month-to-month basis prices fell 0.4% in January from December, but adjusted for seasonal factors the 20-city index was 0.3% higher. The winter months are particularly slow for housing, and seasonal factors play a strong role in price declines. On a seasonally adjusted basis, eight cities posted month-to-month declines. Unadjusted, all but two regions experienced home-price drops.<\/p>\n

Los Angeles posted the largest jump in prices, while Chicago posted the biggest drop. Four cities — Charlotte, Las Vegas, Seattle and Tampa — posted new lows following the financial crisis. On a relative basis, Washington, Los Angeles and New York have held up the most, with each of those markets still 70% above their January 2000 levels.<\/p>\n

“There is little doubt that housing ’stabilization’ continues although the influx of four million new foreclosures, both on-the-market and shadow inventories that remain elevated, 30 year mortgage rates that are solidly through the 5.1% level and an unemployment rate that remains elevated will all likely continue to put downward pressure on demand and thus prices,” said Dan Greenhaus<\/strong> of Miller Tabak<\/strong> & Co.<\/p>\n