A slight miss.
Case-Shiller home prices rose just 0.09% in March.
That’s slightly worse than the 0.2% that was expected.
And it’s a bit below the 0.15% from last month.
On a year over year basis, home prices fell 2.57%.
The good news. It’s clear that on the pace of YOY declines is improving every month.
This chart shows the 10 and 20 city composite.
The full report can be found here.
More to come in a moment.
The big housing datapoint of the day is March Case-Shiller, the gold standard of housing indices.
The number comes out at 9:00 AM ET.
Analysts are expecting a 0.20% sequential increase, and a 2.6% year over year decrease in the 20 city composite.
The drumbeats are definitely growing louder that we’re reaching some kind of a housing bottom.
Other indices are showing signs of turning up, and though people have been predicting a bottom for years, this is definitely the first time people seem to believe it.