Analysis: There's nothing to celebrate in U.S. home-price data

08/31/2010 | Economist (free content), The · U.S. News & World Report · Forbes

Markets have overlooked a crucial fact in their joy for the latest S&P/Case-Shiller U.S. National Home Price Index, which shows a 4.4% increase for the second quarter, according to The Economist. Because of the way the index is calculated, nearly all transactions that went into the data were concluded before a homebuyers' tax credit expired. The housing market has suffered serious deterioration since, and that is likely to show up in future home-price data, the magazine notes.

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Economist (free content), The · U.S. News & World Report · Forbes

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