The Case-Shiller data just came out an hour ago for March 2010 and, as we predicted, the data show price drops across all the markets we cover, with the exception of the San Francisco Bay Area, San Diego, Boston and Seattle:
|Location||MoM Change||YoY Change||Date of Max||Change from Max||Prices Last at This
|San Diego Area||1.5%||10.8%||Nov-05||-36.0%||Mar-03||0|
|New York Area||-0.7%||-2.4%||Jun-06||-21.5%||Apr-04||7|
The data are not adjusted to reflect winter-time price lulls and summer-time run-ups, due to problems Standard & Poor’s has had calculating its seasonal adjustment. In most markets, the seasonal adjustment for March would have resulted in a slightly more optimistic portrait of the market.
We’ll produce a full analysis of May real estate data later in the day, but for now here’s a graph of the index: