The Case-Shiller Home Prices reports turned in record low numbers since the onset of the housing crisis, as the national composite fell nearly 4% while the 10-city and 20-city composites dropped 1.1%.
Today’s report definition clarified: “The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. Read more at http://www.housingviews.com/“
From The Report: “Data through December 2011, released today by S&P Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed that all three headline composites ended 2011 at new index lows.”
Real Estate ETFs have not taken the negative news well, naturally, as real estate ETFs including the Vanguard REIT ETF (NYSEARCA:VNQ), the iShares Dow Jones US Real Estate ETF (NYSEARCA:IYR), the iShares Cohen & Steers Realty Majors Index Fund ETF (NYSEARCA:ICF), and the SPDR Dow Jones REIT ETF (NYSEARCA:RWR), have all declined more than .5% so far.