The Worst Housing Indicator In The World

``The Case Shiller Index released on October 27, purportedly representing market conditions in August, is one of the most misleading of housing industry reports. Its 10 city index barely edged lower from 162.28 to 162.13, a loss of less than 1/10th of 1%. Just to give you an idea of how absurd that is, listing prices in the 10 cities in that index fell by 1.7% between July and August, the period which the Case Shiller Index pretends to represent. If listing prices fell by 1.7%, then sales prices must have fallen by at least that much.''