Case Shiller shows home prices are still falling but just not as much as before

Home-price stopped their free fall and have at least slowed down the rate of their decline according to Case-Shiller. Housing dropeed 0.4% for the composite 10 index in November vs. to a 1.0% drop in October.

Declines across most cities led by Detroit, Atlanta, and Chicago. Year-on-year comparisons show an adjusted 0.4% decline for the composite 10 index and an adjusted 1.6% decline for the composite 20. Further data on home prices will be released at 10:00 a.m. ET today with the FHFA house price index.

We have been calling for another 10-20% drop in housing and we have been justified in our call with recent data. However, most of the drop is still in front of us and not behind.



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