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Case Shiller HPI an Improving Trend

September 29th, 2009 Michael McDonough

On a monthly basis both the 10 and 20 city Case Shiller HPI came in higher in July at +1.65% and 1.60%, respectively.  However, on a yearly basis the 10 city index is still down 12.8%, while the 20 city index is down 13.30%. On a monthly basis only three cities experienced declines (Detroit, Las Vegas, & Seattle).  The strongest performers were Minneapolis (+3.1%), San Francisco (+2.9%), and Chicago (+2.1). Overall, the data was slightly better than market expectations, but the impact should only be marginal.

YoY MoM
NV-Las Vegas -31.4% -1.9%
AZ-Phoenix -28.5% 1.2%
MI-Detroit -24.7% -0.4%
FL-Miami -21.2% 1.0%
FL-Tampa -18.5% 0.5%
CA-San Francisco -17.9% 2.9%
MN-Minneapolis -17.4% 3.1%
WA-Seattle -15.4% -0.3%
CA-Los Angeles -14.9% 1.2%
IL-Chicago -14.2% 2.1%
OR-Portland -13.9% 0.5%
Composite-20 -13.3% 1.2%
Composite-10 -12.8% 1.3%
CA-San Diego -12.3% 2.0%
GA-Atlanta -11.8% 1.6%
NY-New York -10.4% 0.9%
DC-Washington -9.8% 1.6%
NC-Charlotte -9.0% 0.1%
MA-Boston -5.0% 0.6%
CO-Denver -3.0% 0.6%
TX-Dallas -1.6% 0.6%
OH-Cleveland -1.4% 0.8%
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