Case Shiller HPI an Improving Trend
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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