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October 25, 2011

Battle of The Home Price Indices

Hi Everyone,
   Glad to have you back with me here today!

   This week, there were two separate Home Price Indices released that reflected Home Prices in August as compared to the previous month, along with a comparison to the previous month one year prior. However, both the S&P/Case-Shiller Home Prices Index and the FHFA Monthly Home Price Index differ in their report.

   For the period covering July through August, the S&P/Case-Shiller Home Price Index showed increases of +0.2% for both the 10- and 20-City Composites. On the flip side, the FHFA House Price Index Fell 0.1%, which they deemed the "First Monthly Decline Since March".

   For the period covering August 2010 through August 2011, the S&P/Case-Shiller Home Price Index said that "Annual Rates of Change Continue to Improve", with Atlanta and Los Angeles continuing their drop, however, with the Midwest acting as a shining star, Detroit is named as "the healthiest when viewed on an annual basis" (possibly due to renewed strength in the Auto-Industry?). Once again we turn to the flip side, and we see that the FHFA House Price Index reported that U.S. prices fell 4% from August 2010 - August 2011.

   For the sake of Apples to Apples, the FHFA monthly index is calculated "using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac", and the S&P/Case-Shiller Home Price Index is a Weighted value composite of "single-family home price indices for the nine U.S. Census division"

   Did you find this interesting. Which of the figures would you place most of your faith?

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Have a Great Weekend, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: #HomePrices #FannieMae #FreddieMac #mortgage #FHFA #Detroit #Atlanta

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