We follow home prices quite closely here, whether it’s a national report, regional news, or our analysis of home prices in your neighborhood (the link is to our East Dallas blog -– we didn’t do one in Oak Cliff in July then, but when I update Oak Cliff home prices in January, we'll have a post). So this week’s news that Dallas-area home prices declined another 3.2 percent, according to the respected S&P/Case-Shiller survey, is worth noting.
But what may be even more interesting is how this story gets reported. Is it any wonder the subject is so confusing?
Here’s a sampling of headlines for the Case-Shiller story:
• Financial Times: Decline in US house prices slows
• Dallas’ Only Daily Newspaper: S&P: Dallas-area home prices drop 3.2%
• Dallas Business Journal: Dallas home prices drop slightly, but hold their own
• Star-Telegram: North Texas housing market is still faring better than U.S.
• New York Times: Home Prices Still Falling, but the Pace is Slowing
• Wall Street Journal: Housing Data Signal Small Pickup
Hard to believe these are the same stories, isn’t it? For what it’s worth, the survey reported that home prices in 10 major metropolitan markets fell 17 percent in June from the year before.