The December Case Shiller data was released today.  Unlike the NWMLS and NAR fraudulent “eternal real estate cheerleader” numbers, the Case Shiller values are based on ACTUAL RESALE VALUES and OBJECTIVE MEASURES.  Lets first recap the phony numbers as reported by the Northwest Multiple Listing Service (NWMLS) for the December period. 

When the NWMLS reported the Seattle area December data, they said:

The median price for a Seattle area house that sold in December was $436,750, up just over 5 percent from November…The median house price in King county was $403,500, up just over 2 percent from November…The median condo price in Seattle was $321,500, the highest since March, up 6 percent from November.

Now lets look at the ACTUAL DATA from the Case Shiller report, as shown in the graph below.

december-case-shiller

Results:

  • Seattle home prices DOWN 13.4% year over year and DOWN 3.6% month over month.
  • NWMLS wrongly reported that Seattle home prices were UP in December month over month.
  • Regarding the rest of the nation, not one city in the Case Shiller index reported a halt in home price declines.

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