Case Shiller Index - March 2009

The Case Shiller Index fell another 2.2% in March 2009 and now stands 32.2% below its peak level hit in July 2006. Prices have declined to levels last seen in May 2003, with some of the worst regions (i.e. Phoenix, Las Vegas) having retreated to 2001/2002 prices. On a positive note, last month was the first month since August 2008, where sequential increases were observed in any of the index’s 20 metro areas. Denver and Charlotte inked out sequential gains, rising .1% and .3%, respectively. Certainly nothing to get too excited about, but further confirmation that housing is slowly, but surely finding a bottom.