The new S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month’s reading. This marks approximately nine months of improved readings in these statistics, beginning in early 2009. (The index, developed by economists Karl Case, Robert Shiller, and Allan Weiss, compares repeat sales of the same homes in an effort to study home pricing trends.)

Looking closer to home in the Boston area, home values fell by less than one percent in October compared to the month before. According to today’s Boston Globe, “Karl E. Case, an professor of economics at Wellesley College and co-founder of the Case-Shiller indices, believes the Boston-area housing market hit bottom in March.”

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This entry was posted on Wednesday, December 30th, 2009 at 2:15 pm and is filed under real estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.