New Low in the Case-Shiller House Price Index

Courtesy of Case-Shiller

The Standard & Poor's Case-Shiller house price index (HPI) fell to a new low in March with the quarterly National index, as well as the monthly Composite 20 (CS20) and Composite 10 (CS10) indexes sinking below their previous cyclical lows of early 2009.

The National index was down 4.1 percent on a not seasonally adjusted (NSA) basis in the first quarter of 2011 and the monthly Composite 20 (CS20) and Composite 10 (CS10) indexes fell 0.8 percent and 0.6 percent (NSA) respectively in March.

This was the third consecutive decline of the quarterly index and the eighth consecutive decline for the monthly indexes. Year-over-year, National index is down 5.1 percent and the CS10 and CS20 are down 2.9 percent and 3.6 percent, respectively.

- Courtesy of NAHB