Case-Shiller Index: Home prices up 0.8% In April

June 29, 2010 · Posted in Commentary 

Home prices in the Top 20 Metropolitan Areas rose 0.8% in April, according to the Standard & Poor’s Case-Shiller Index.  This was the first increase since September. The big winner was Washington, D.C. with a 2.4% increase over March.   Miami suffered 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 56.2% from their peak.  Las Vegas prices rose 0.2% over March. Overall, home prices in the Top 20 Metropolitan Areas are down 30% from their July, 2006 peak .

Here’s a look at how the individual Top 20 Metropolitan Areas are performing:

  • Phoenix:  Up 0.5% over March, down 51.6% from their peak.
  • Los Angeles:  Up 0.7% over March, down 37.3% from their peak.
  • San Diego:  Up 0.7% over March, down 35.5% from their peak.
  • San Francisco:  Up 2.2% over March, down 36.0% from their peak.
  • Denver:  Up 1.7% over March, down 9.1% from their peak.
  • Washington DC:  Up 2.4% over March, down 28.5% their peak.
  • Miami:  Down 0.8% over March, down 48.4% from their peak.
  • Tampa:  Up 0.5% over March, down 42.4% from their peak.
  • Atlanta:  Up 1.8% over March, down 22.6% from their peak.
  • Chicago:  Up 0.6% over March down 28.6% from their peak.
  • Boston:  Up 1.4% over March, down 15.8% from their peak.
  • Detroit:  Up 0.2% over March, down 46.6% from their peak.
  • Minneapolis:  Up 1.8% over March, down 30.5% from their peak.
  • Charlotte:  Up 1.1% over March, down 14.6% from their peak.
  • Las Vegas:  Up 0.2% over March, down 56.2% from their peak.
  • New York:  Down 0.3% over March, down 21.7% from their peak.
  • Cleveland:  Up 1.4% over March, down 15.2% from their peak.
  • Portland:  Up 1.8% over March, down 21.6% from their peak.
  • Dallas:  Up 2.0% over March, down 6.6% from their peak.
  • Seattle:  Up 1.0% over March, down 24.5% from their peak.

Although prices rose in April, there will be continued downward pressure on prices due to the home buyer’s tax credit expiring.

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