Case-Shiller Index: Home prices up 1.0% In June
Home prices in the Top 20 Metropolitan Areas rose 1.0% in June, according to the Standard & Poor’s Case-Shiller Index. This was the third consecutive monthly increase. The big winners were Minneapolis, Chicago, and Detroit with a 2.5% increase over May. Las Vegas was alone in suffering a drop of 0.6% over the previous month. The biggest loser in this current market downturn continues to be Las Vegas where prices are off 56.7% from their peak. Overall, home prices in the Top 20 Metropolitan Areas are down 28.4% from their July, 2006 peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing:
- Phoenix: Unchanged over May, down 51.2% from their peak.
- Los Angeles: Up 0.6% over May, down 35.9% from their peak.
- San Diego: Up 0.4% over May, down 34.6% from their peak.
- San Francisco: Up 0.3% over May, down 34.7% from their peak.
- Denver: Up 0.7% over May, down 7.9% from their peak.
- Washington DC: Up 1.7% over May, down 26.0% their peak.
- Miami: Up 0.4% over May, down 47.7% from their peak.
- Tampa: Up 0.2% over May, down 41.8% from their peak.
- Atlanta: Up 1.7% over May, down 19.6% from their peak.
- Chicago: Up 2.5% over May, down 25.9% from their peak.
- Boston: Up 1.2% over May, down 13.5% from their peak.
- Detroit: Up 2.5% over May, down 44.9% from their peak.
- Minneapolis: Up 2.5% over May, down 26.4% from their peak.
- Charlotte: Up 0.7% over May, down 13.7% from their peak.
- Las Vegas: Down 0.6% over May, down 56.7% from their peak.
- New York: Up 1.3% over May, down 20.0% from their peak.
- Cleveland: Up 1.3% over May, down 13.1% from their peak.
- Portland: Up 0.5% over May, down 20.3% from their peak.
- Dallas: Up 1.0% over May, down 4.2% from their peak.
- Seattle: Unchanged over May, down 23.7% from their peak.
With another strong increase in June, maybe prices have finally found a bottom.
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