Case-Shiller Index: Homes prices up 0.3% in September
Home prices in the Top 20 Metropolitan Areas continued their upward movement in September, according to the Standard & Poor’s Case-Shiller Index. The big winners were Minneapolis and Detroit with a 1.8% increase over August. The biggest loser in this current market downturn is Las Vegas where prices are off 55.4% from their peak. Overall, home prices in the Top 20 Metropolitan Areas were down 29% from their collective peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing:
- Phoenix: Up 0.8% over August, down 52.0% from their peak.
- Los Angeles: Up 0.8% over August, down 38.7% from their peak.
- San Diego: Up 0.9% over August, down 38.2% from their peak.
- San Francisco: Up 1.3% over August, down 38.6% from their peak.
- Denver: Down 0.5% over August, down 7.7% from their peak.
- Washington DC: Up 0.5% over August, down 28.1% their peak.
- Miami: Up 0.5% over August, down 46.7% from their peak.
- Tampa: Down 0.6% over August, down 40.1% from their peak.
- Atlanta: Unchanged over August, down 18.5% from their peak.
- Chicago: Up 1.2% over August, down 21.6% from their peak.
- Boston: Down 0.2% over August, down 14.7% from their peak.
- Detroit: Up 1.8% over August, down 42.6% from their peak.
- Minneapolis: Up 1.8% over August, down 27.0% from their peak.
- Charlotte: Down 0.7% over August, down 11.8% from their peak.
- Las Vegas: Down 0.9% over August, down 55.4% from their peak.
- New York: Down 0.3% over August, down 19.2% from their peak.
- Cleveland: Down 1.6% over August, down 14.4% from their peak.
- Portland: Down 0.5% over August, down 19.7% from their peak.
- Dallas: Down 0.7% over August, down 4.7% from their peak.
- Seattle: Down 0.4% over August, down 22.5% from their peak.
While it looks like home prices have bottomed out, many economists are expecting further price declines in 2010 due to foreclosures caused by resets of adjustable rate mortgages.
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