Case Shiller takes another dive

Case Shiller takes another dive. Bad news, but today the market is focusing on fire sales to come in the Greek Archipelago. Euro surging, oil, silver and ES futures all surging, while US housing is taking the double dip down.

New York, May 31, 2011 – Data through March 2011, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in the fourth quarter of 2010. The National Index hit a new recession low with the first quarter’s data and posted an annual decline of 5.1% versus the first quarter of 2010. Nationally, home prices are back to their mid-2002 levels.

Don’t forget the long term picture…