Case-Shiller Home Price Index Shows Continued Improvement
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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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