The S&P / Case-Shiller Home Price Indices are widely watched – and often badly reported on.
Recent storties in the Sun-Times and Tribune (via AP) focused on the Home Price Values Index and failed to mention the Condominium Values Index. The latter index is of far more relevance to the majority of our readers.
Chicago-area single-family home values in October 2008, according to Case-Shiller, were down 10.8% from the prior year, and 13.7% from their peak in September 2006 .
Chicago condominium values in October were down just shy of 6% from their peak in October 2006, and from their year-ago value.