New Report Questions Double Dip Theory in US Real Estate

It’s Thursday morning. Do you know where your home price index stood this week?

According to Case-Shiller’s famous monthly index for March (it’s actually an average of three months), the nation’s housing was double-dipping, with a 4.2% decline in the first quarter. Home prices in 18 cities of their 20 tracked dropped in March on a monthly basis; 12 hit new lows.

A day later CoreLogic’s release of its index for April (also a three months average) suggested: maybe not, or maybe not any more. Their home price index showed a 0.7% increase between March and April, the first increase in this index since the homebuyer tax credit expired in mid-2010.

What’s going on?

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