Case-Shiller Index: Home prices up 1.3% In May
July 27, 2010 · Posted in Commentary
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:
- Phoenix: Up 0.9% over April, down 51.2% from their peak.
- Los Angeles: Up 1.7% over April, down 36.2% from their peak.
- San Diego: Up 1.1% over April, down 34.8% from their peak.
- San Francisco: Up 1.7% over April, down 34.9% from their peak.
- Denver: Up 0.6% over April, down 8.6% from their peak.
- Washington DC: Up 1.5% over April, down 27.5% their peak.
- Miami: Up 0.9% over April, down 47.9% from their peak.
- Tampa: Up 0.9% over April, down 41.9% from their peak.
- Atlanta: Up 2.0% over April, down 21.0% from their peak.
- Chicago: Up 1.2% over April, down 27.7% from their peak.
- Boston: Up 1.6% over April, down 14.5% from their peak.
- Detroit: Up 0.7% over April, down 46.2% from their peak.
- Minneapolis: Up 2.8% over April, down 28.3% from their peak.
- Charlotte: Up 0.3% over April, down 14.3% from their peak.
- Las Vegas: Down 0.5% over April, down 56.4% from their peak.
- New York: Up 0.8% over April, down 21.0% from their peak.
- Cleveland: Up 1.0% over April, down 14.3% from their peak.
- Portland: Up 1.2% over April, down 20.7% from their peak.
- Dallas: Up 1.5% over April, down 5.2% from their peak.
- Seattle: Up 1.2% over March, down 23.7% from their peak.
Overall, prices made a strong increase in May, possibly indicating a turnaround in the market.
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