About that Housing Market

Lest Case-Schiller S&P Housing numbers are just out:

“S&P CORELOGIC CASE-SHILLER INDEX RECORDS
3.9% ANNUAL GAIN IN SEPTEMBER 2024

Year-Over-Year

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.9% annual gain in September, down from 4.3% the previous month.
The 10-City Composite annual increase came in at 5.2%, down from 6.0% the previous month. The 20-City Composite posted a 4.6% year-over-year gain, down from 5.2% in the previous month.
New York, Cleveland and Chicago reported the highest year-over-year gains with year-over-year price increases of 7.5%, 7.1% and 6.9%, respectively.
Denver posted the smallest year-over-year growth of 0.2%.

Month-over-Month

The National Index posted a -0.1% month-over-month decrease while the 20-City and 10-City Composites both posted decreases of -0.3% and -0.4% before seasonal adjustment in September 2024.
After seasonal adjustment, the National Index posted a 0.3% increase while the 20-City and 10-City Composites posted increases of 0.2% and 0.1%.

In terms of the overall price action, this chart is a good overview.

Now, the one thing we don’t like is there is now “power calculation” of how things are rolling.  In other words, in electricity, you take current times voltage and you get power – the amount of work done.

Same kind of thing applies in economics: Number of sales TIMES price and you get a total value.

These numbers – which we judge better than government efforts – don’t really give us more “power” information.  Just price.  Yet we appreciate what can be done with a simple voltmeter at times, so it’s all good.

Still… would be nice if they did a total value of transactions to put up against their sales price information.

Maybe in another life sometime?

After the numbers, the Dow was down a bit, the S&P up a shade and the NASDAQ is off wandering to see if there’s a new record out there somewhere. There is but it’s another 90 points, or so, uphill from here.

Write when you get rich,

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