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Tuesday, March 31, 2009

Case Shiller Price Index Level at -5% YoY in January

Full details of the Case Shiller price index can be found here. Here's the jist:

I took reported YoY CPI and backed out the YoY change in U.S. Housing CPI at the 23.942% weighting. I then took this result and added the YoY change in the Case-Shiller Home Price Index at that same weight.
With data from the new Case Shiller release, we see a leveling off of deflation (as measured including home prices) as the second derivative of the year over year change in home prices has begun to level out.

Source: S&P