Wondering why we have conflicting reports on the S&P Case-Shiller Housing Index? One financial press source is singing hallelujah while another is glum? Because S&P is using not seasonally adjusted data in their press release and other news outlets are using the seasonally adjusted data. Not seasonally adjusted, the composite-20 index increased 0.7%, but the seasonally adjusted composite-20 housing index decreased -0.1%.
Same situation for the composite-10 index. The not seasonally adjusted composite-10 increased 0.8% from March to April, but seasonally adjusted? That flat-lined, no change.
