Marking Time - Case-Shiller Home Price Indices Move Very Little, Again
The S&P/Case-Shiller Home Price Indices for January 2010 were release last month. The chart for the Miami, Tampa, and 20 market composite indices is posted on my website. All 3 indices suffered slight declines - the 4th consecutive for Miami and the national composite and 5th in a row for Tampa. Thankfully all of the changes this month and for the last 4 or 5 cummulatively have been relatively minor. We've been basically flat during this period.
Prices for all 3 indices are now back to mid 2003 levels. If you bought or refinanced after the first quarter of 2003, your are most likely part of the 21% of homeowners underwater in their mortgage.