The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index issued Oct. 25 showed a -2.6% difference between its July and August figures, the largest month-over-month deceleration in the history of the index.
The Case-Shiller Home Price Indices for August is a three-month average of June, July and August closing prices. June closing prices include some contracts signed in April, so there is a significant lag to this data, reported Bill McBride of the Calculated Risk blog.
The MoM decrease in Case-Shiller was at -0.86% seasonally adjusted. This was the second consecutive MoM decrease, and the largest MoM since February 2010.
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