Case-Shiller Index: Home prices up 0.6% In July
October 25, 2010 · Posted in Commentary
Home prices in the Top 20 Metropolitan Areas rose 0.6% in July, according to the Standard & Poor’s Case-Shiller Index. This was the fourth consecutive monthly increase. The big winner was Detroit with a 1.6% increase over May. Las Vegas was the biggest loser suffering a drop of 0.8% over the previous month. The biggest loser in this current market downturn continues to be Las Vegas where prices are off 57.0% from their peak. Overall, home prices in the Top 20 Metropolitan Areas are down 27.9% from their July, 2006 peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing:
- Phoenix: Down 0.6% over June, down 51.5% from their peak.
- Los Angeles: Up 0.3% over June, down 35.7% from their peak.
- San Diego: Up 0.7% over June, down 34.1% from their peak.
- San Francisco: Up 0.5% over June, down 34.4% from their peak.
- Denver: Down 0.4% over June, down 8.2% from their peak.
- Washington DC: Up 1.1% over June, down 25.1% their peak.
- Miami: Up 0.7% over June, down 47.3% from their peak.
- Tampa: Down 0.2% over June, down 41.9% from their peak.
- Atlanta: Up 0.2% over June, down 19.5% from their peak.
- Chicago: Up 1.0% over June, down 25.2% from their peak.
- Boston: Up 0.6% over June, down 12.9% from their peak.
- Detroit: Up 1.6% over June, down 44.0% from their peak.
- Minneapolis: Up 0.8% over June, down 25.8% from their peak.
- Charlotte: Down 0.2% over June, down 13.9% from their peak.
- Las Vegas: Down 0.8% over June, down 57.0% from their peak.
- New York: Up 1.3% over June, down 19.0% from their peak.
- Cleveland: Unchanged over June, down 13.1% from their peak.
- Portland: Down 0.3% over June, down 20.5% from their peak.
- Dallas: Down 0.3% over June, down 4.5% from their peak.
- Seattle: Up 0.1% over June, down 23.5% from their peak.
With another strong increase in July, the housing recovery might be a reality.
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