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Case Shiller and Zillow Indexes show Stabilizing Home Prices for Dallas - Fort Worth

Case Shiller and Zillow Indexes show Stabilizing Home Prices for Dallas - Fort Worth #p #in

Last Update: 2011-07-28 06:09:08

It's time again to look inside the Case Shiller and Zillow home price data at Dallas-Fort Worth as of May, 2011. (The index is published two months in arears.)

I don't use the "seasonally adjusted" data from Case Shiller -- I think it's a concept gone wrong.

This is the second month that I include the Zillow median home price for Dallas-Fort Worth metro and plotted it along with the Case Shiller unadjusted index. Now we have the results of two methods to look at --

  1. Case Shiller, where repeat sales of the same home are compared through a complex method; and
  2. Zillow, where the all the home prices are estimated (zestimated) monthly through a complex process and the median value reported. Keeping apples-to-apples I use Zillow's DFW metro number off the national data summary.
Both indexes confirm the trend of slowing declines since November 2010 and, now, two consecutive months of increases. I'm looking for a June / July peak in Case Shiller's index with some softness into the start of school and subsequently the holidays. Baring further economic turmoil, I look for fairly stable price into 2012. I report in another article that east Dallas MLS sales for June continue the 2011 trend as the slowest in 5 years, not by a much as other months. Listings continue to exceed sales. (See the east Dallas area 12 MLS sales trends.) The apparent settling of prices continues to indicate price levels are now in line with demand, a bottom is forming.

Here is the chart, if you have any questions or would like an evaluation of your specific property, contact me.

Case Shiller and Zillow DFW Home Price Index Trend Chart May 2011

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