Case-Shiller indices came out yesterday. August prices for the 20 city index declined m/m, and Zillow’s forecast for the CS 20 city index in September was for another decline. This is shown in Figure 1:
Figure 1: Case-Shiller 20 city home prices (blue, left log scale), Zillow forecast of Case-Shiller based on Zillow prices from September for July, from October for August (red +, right log scale), Zillow single family home prices, in 2018$ (brown, right log scale), all deflated by CPI-All. Source: Zillow, S&P, BLS, and author’s calculations.
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