From a small northwestern observatory…

The latest Case-Shiller analysis hit my desk today, looking at housing prices through the 3rd quarter of 2011.  Their headline says it all:  Home Prices Weaken as the Third Quarter 2011 Ends.

Chart Courtesy S&P - Case Shiller

Their overall national index was declining at a 3.9% annual rate as of the end of the 3rd quarter.  Looking for faint hope in the data, this is actually an improvement over the 5.8% decline rate measured at the end of the 2nd quarter.  Home prices continue to cycle around (and mainly slightly below) their 2003 levels, which they’ve been doing for quite some time.  For more information, visit the Standard and Poors web site.