Housing Indices - Spot Index v High Index Marks
Below are two tables that highlight the housing price moves from the highest levels attained over the last few years compared with the most recent indices. When you embed the futures and swap forwards that are traded on these indices, the change in housing stock value from high watermark in US housing pricing to the end-2012 prediction is down 30% to 50% in many markets.
| S&P/Case-Shiller Index - January 2008 v Highs | ||||||
| High | High | Jan 2008 | High v | Nov 2012 | High v | |
| Month | Index | Index | Jan 2008 | Futures* | Nov 2012 | |
| Atl | Jul 07 | 136.47 | 127.08 | -6.88% | ||
| Bos | Sep 05 | 182.48 | 162.59 | -10.90% | -11.80% | -22.70% |
| Char | Aug 07 | 135.88 | 131.70 | -3.08% | ||
| Chi | Sep 06 | 168.60 | 156.47 | -7.19% | -7.10% | -14.29% |
| Clev | Jul 06 | 123.49 | 108.49 | -12.15% | ||
| Dal | Jun 07 | 126.47 | 118.56 | -6.25% | ||
| Den | Aug 06 | 140.27 | 128.98 | -8.05% | -13.90% | -21.95% |
| Det | Dec 05 | 127.05 | 100.17 | -21.16% | ||
| LA | Sep 06 | 273.94 | 224.41 | -18.08% | -27.70% | -47.78% |
| LV | Aug 06 | 234.78 | 186.05 | -20.76% | -16.80% | -37.56% |
| Mia | Dec 06 | 280.87 | 225.40 | -19.75% | -30.80% | -50.55% |
| Min | Sep 06 | 171.12 | 151.16 | -11.66% | ||
| NY | Jun 06 | 215.83 | 200.49 | -7.11% | -19.00% | -26.11% |
| Pho | Jun 06 | 227.42 | 180.06 | -20.82% | ||
| Port | Jul 07 | 186.51 | 178.81 | -4.13% | ||
| SD | Nov 05 | 250.34 | 197.45 | -21.13% | -21.80% | -42.93% |
| Sea | Jul 07 | 192.30 | 181.62 | -5.55% | ||
| SF | May 06 | 218.37 | 183.81 | -15.83% | -15.70% | -31.53% |
| Tamp | Jul 06 | 238.09 | 194.64 | -18.25% | ||
| WDC | May 06 | 251.07 | 212.83 | -15.23% | -22.00% | -35.23% |
| 10-C | Jun 06 | 226.29 | 196.06 | -13.36% | -21.50% | -34.86% |
| 20-C | Jul 06 | 206.52 | 180.65 | -12.53% | ||
| * based on CME Settlements March 18, 2008 | ||||||
| Source: S&P, Bloomberg, TFS | ||||||
| Radar Logic RPX - March 25, 2008 Publication Date v 28-day Highs | ||||||
| High | High | 25-Mar-08 | High v | 5 Year | High v | |
| Month* | Index | Index | Index | Swap Market | Dec 2012 | |
| Atl | Aug 07 | 106.31 | 90.60 | -14.78% | ||
| Bos | Oct 05 | 257.46 | 206.75 | -19.70% | ||
| Char | Aug 07 | 101.62 | 93.78 | -7.72% | ||
| Chi | Aug 07 | 205.19 | 169.20 | -17.54% | ||
| Clev | Aug 05 | 99.59 | 84.10 | -15.55% | ||
| Col | Sep 05 | 103.92 | 91.58 | -11.87% | ||
| Den | Sep 07 | 152.56 | 128.31 | -15.90% | ||
| Det | Oct 05 | 121.60 | 96.94 | -20.28% | ||
| Jax | Jan 07 | 135.97 | 115.31 | -15.19% | ||
| LA | Jun 07 | 401.65 | 328.80 | -18.14% | ||
| LV | Jul 06 | 186.72 | 137.90 | -26.15% | ||
| Manh | Dec 07 | 1184.95 | 1117.59 | -5.68% | ||
| Mia | Jul 06 | 208.48 | 175.51 | -15.81% | ||
| Milw | Aug 07 | 135.29 | 110.48 | -18.34% | ||
| Minn | Aug 06 | 164.36 | 141.12 | -14.14% | ||
| NY | Aug 07 | 310.00 | 288.47 | -6.95% | ||
| Phi | Aug 07 | 164.59 | 148.58 | -9.73% | ||
| Phx | Aug 06 | 167.81 | 136.01 | -18.95% | ||
| Sacr | Nov 05 | 252.78 | 165.90 | -34.37% | ||
| SD | Jul 06 | 357.34 | 269.23 | -24.66% | ||
| Sea | Aug 07 | 236.16 | 212.87 | -9.86% | ||
| SF | Aug 07 | 463.32 | 374.70 | -19.13% | ||
| SJ | Jul 07 | 484.69 | 417.77 | -13.81% | ||
| Stl | Jul 07 | 124.52 | 103.99 | -16.49% | ||
| Tamp | Aug 06 | 147.18 | 117.83 | -19.94% | ||
| WDC | Jul 06 | 267.18 | 219.43 | -17.87% | ||
| 25 C | Aug 07 | 278.32 | 242.76 | -12.78% | -22.50% | -28.78% |
| (1Q08 not double counted) | ||||||
| *Publication date | ||||||
| Source: Radar Logic, TFS | ||||||