The Case Shiller Index is perhaps the most reputable home price index in the United States and tracks the real estate market in 20 major U.S. cities. In late 2010, this index’s graph seemed to show that a recovery was on its way. However, this temporary increase in home prices was simply due to the homebuyer tax credits. Now that these credits gave expired, the index has started to drop once again. This “double dip” can easily be seen when graphed. With the current level of unemployment, I do not predict that prices will increase anytime soon. I believe, the downward slope of this graph only strengthens the validity of my prediction.
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