After a (very) long winter, spring seems to have brought a touch of sunshine to American house prices. The latest Case Shiller indices were released last week and they showed that average prices continued to fall in April 2009: the ten city index was 0.7% lower the 20 city index was 0.6% lower than the previous month. What’s interesting to me is that these are the lowest falls since June 2008. The case for those declaring the worst is over continues to gain momentum.

Despite continued pessimism in some quarters of the market, the statistics point to similar turning points in the UK; with Nationwide reporting price rises of 0.9% in June and the Bank of England announcing four months in a row of rising mortgage approvals in May.

Colin Murphy
Torcana.com

Tags: Bank of England, Case Schiller, House price statistics, Nationwide Bank, Torcana

This entry was posted on Wednesday, July 15th, 2009 at 9:48 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.