Home prices in the Top 20 Metropolitan Areas rose 1.3% in May, according to the Standard & Poor’s Case-Shiller Index. This was the second consecutive monthly increase. The big winner was Minneapolis with a 2.8% increase over April. Las Vegas was alone in suffering a drop of 0.5% over the previous month. The biggest loser in this current market downturn continues to be Las Vegas where prices are off 56.4% from their peak. Overall, home prices in the Top 20 Metropolitan Areas are down 29.1% from their July, 2006 peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing: Read more
The Bureau of Labor Statistics reported today that the unemployment rate edged down to 9.5% in June with 125,000 jobs being lost. Temporary Census workers accounted for 225,000 of the total jobs lost. Private sector employment increased by 83,000 jobs.
Let’s breakdown the numbers: