David Blitzer: 3 reasons why housing is “somber”

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 · According to the S&P/Case-Shiller home price index, housing is on the rebound, but Zillow’s Chief Economist offers clarifying points to the data.

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 · David Blitzer, chairman of the index committee at Standard & Poor’s, said the positive May report paints a picture that’s a bit misleading. May, he noted, is in the strong seasonal period for home.

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 · ”Overall, housing is doing quite well,” David Blitzer, managing director of the Index Committee at S&P Dow Jones Indices, said.

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 · According to the S&P Case-Shiller Home Price Index report for January, home prices grew by 4.50 percent year-over-year as compared to January 2014â s year-over-year price growth rate of 10.50 percent. This was the lowest rate of home price growth since 2012.

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