The Case-Shiller Index is 2-5 months old by the time it comes out – do we even need to cover it? These are the seasonally-adjusted numbers, the NSA had the same +12.1% increase too:
March 2012: 151.77
Feb. 2013: 166.85
March 2013: 170.19
M-O-M = +2.0%
Y-O-Y = +12.1%
These aren’t eye-popping any more, and the 1-2%-per-month increase is fairly normal in a market coming off a big downturn.
We will probably keep getting double-digit increases in the SD Case-Shiller through September. It was last October that the index started its ascent, and as a result, the Y-O-Y changes should be lower starting later this year:
The SD NSA peak was 250.34 in November, 2005, and the trough was 144.43 in April, 2009 – a 42% difference. The county is about a third of the way back!