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Case-Shiller Home Price Index Shows Continued Improvement

Written by

MikeMcD82

The Case-Shiller 10 Metro-Area Composite Index rose 1.4% in June.  A month prior the 10 and 20 Metro-Area Indices rose by +0.4% and +0.5%, respectively.  These were the indices first increments since June 2006.  This morning’s rise is consistent with other housing related data that seems to imply a bottom and modest recovery for the sector. The 10 Metro-Area Index is still down 15.1% on a year over year basis.  Another positive indicator from this month’s data is that prices in hard-hit San Francisco and Minneapolis have begun to recover.  But, prices in the hardest hit city, Las Vegas, still continue to decline.  The only other city showing a month over month declines was Detroit, which is down 25% on a year over year basis.  The markets are trading higher on the positive news.

Date M/M Y/Y
OH-Cleveland 4.2% -3.0%
CA-San Francisco 3.8% -22.0%
MN-Minneapolis 3.1% -19.8%
DC-Washington 2.8% -11.8%
TX-Dallas 2.7% -2.2%
MA-Boston 2.6% -5.9%
CO-Denver 2.5% -3.6%
CA-San Diego 1.6% -16.0%
GA-Atlanta 1.5% -13.7%
Composite-10 1.4% -15.1%
Composite-20 1.4% -15.4%
AZ-Phoenix 1.1% -31.6%
CA-Los Angeles 1.1% -17.8%
IL-Chicago 1.1% -16.7%
OR-Portland 1.0% -15.2%
NC-Charlotte 0.7% -9.6%
FL-Miami 0.5% -23.4%
NY-New York 0.4% -11.9%
FL-Tampa 0.4% -19.5%
WA-Seattle 0.4% -16.1%
MI-Detroit -0.8% -25.0%
NV-Las Vegas -2.0% -32.4%

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