Case-Shiller’s September housing report came out worse than expected, confirming to any doubters that the housing double dip is here.
National home prices dropped 1.5% in September.The new data will worsen Case-Shiller’s already bearish outlook for the housing market.
Earlier this month, it forecast a 7.1 percent drop in prices from Q2 ’10 to Q2 ’11, with price stagnation through Q2 ’12. This is a brutal forecast, which would have wide economic consequences.
Five years after the housing peak, markets in Florida, Nevada and California would remain down around 60 percent. If you want to move to warm weather this is probably the time to find a buy of a lifetime in Florida, California or Arizona.
The Worst Markets According to Case-Shiller research.
Forecast change 2010:Q2 to 2012:Q2: -14.3%
Forecast change from peak to 2012:Q2: -49.9%
Median home price today: $170,000
Median home price in 2012: $146,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -14.6%
Forecast change from peak to 2012:Q2: -65.7%
Median home price today: $247,000
Median home price in 2012: $211,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -15.3%
Forecast change from peak to 2012:Q2: -37%
Median home price today: $142,000
Median home price in 2012: $120,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -16.2%
Forecast change from peak to 2012:Q2: -65.8%
Median home price today: $100,000
Median home price in 2012: $83,800
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -16.3%
Forecast change from peak to 2012:Q2: -54.8%
Median home price today: $212,000
Median home price in 2012: $177,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -17.7%
Forecast change from peak to 2012:Q2: -61.4%
Median home price today: $135,000
Median home price in 2012: $111,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -18.4%
Forecast change from peak to 2012:Q2: -59.1%
Median home price today: $155,000
Median home price in 2012: $126,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -18.5%
Forecast change from peak to 2012:Q2: -39.2%
Median home price today: $220,000
Median home price in 2012: $179,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -18.7%
Forecast change from peak to 2012:Q2: -57%
Median home price today: $203,000
Median home price in 2012: $165,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -18.8%
Forecast change from peak to 2012:Q2: -37.8%
Median home price today: $175,000
Median home price in 2012: $142,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -20.5%
Forecast change from peak to 2012:Q2: -61.4%
Median home price today: $144,000
Median home price in 2012: $115,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -20.6%
Forecast change from peak to 2012:Q2: -37.1%
Median home price today: $305,000
Median home price in 2012: $242,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -21.21%
Forecast change from peak to 2012:Q2: -61.7%
Median home price today: $190,000
Median home price in 2012: $145,000
Source: Fiserv Case-Shiller
Forecast change 2010:Q2 to 2012:Q2: -21.7%
Forecast change from peak to 2012:Q2: -66.1%
Median home price today: $153,000
Median home price in 2012: $112,000
Source: Fiserv Case-Shiller
Forecast change from peak to 2012:Q2: -62%
Median home price today: $260,000
Median home price in 2012: $196,000
Source: Fiserv Case-Shiller
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This post was last modified on %s = human-readable time difference 4:53 am
Just back out of hospital in early March for home recovery. Therapist coming today.
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