Case-Shiller Index: Homes prices unchanged in October
Home prices in the Top 20 Metropolitan Areas remained unchanged in October, according to the Standard & Poor’s Case-Shiller Index. The big winners were Phoenix and San Francisco with 1.3% and 1.2% increases respectively over September. The biggest loser in this current market downturn continues to be 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 1.3% over September, down 51.3% from their peak.
- Los Angeles: Up 0.3% over September, down 38.5% from their peak.
- San Diego: Up 0.4% over September, down 37.9% from their peak.
- San Francisco: Up 1.2% over September, down 37.8% from their peak.
- Denver: Down 0.4% over September, down 8.1% from their peak.
- Washington DC: Down 0.4% over September, down 28.4% their peak.
- Miami: Down 0.4% over September, down 46.9% from their peak.
- Tampa: Down 1.6% over September, down 41.1% from their peak.
- Atlanta: Down 1.0% over September, down 19.3% from their peak.
- Chicago: Down 1.0% over September, down 22.4% from their peak.
- Boston: Down 0.6% over September, down 15.2% from their peak.
- Detroit: Up 0.2% over September, down 42.5% from their peak.
- Minneapolis: Down 0.5% over September, down 27.2% from their peak.
- Charlotte: Down 0.7% over September, down 12.4% from their peak.
- Las Vegas: Down 0.1% over September, down 55.4% from their peak.
- New York: Unchanged over September, down 18.9% from their peak.
- Cleveland: Down 0.7% over September, down 15.0% from their peak.
- Portland: Up 0.1% over September, down 19.7% from their peak.
- Dallas: Down 0.6% over September, down 5.2% from their peak.
- Seattle: Up 0.2% over September, down 22.4% from their peak.
Whether home prices have actually started to recover is anybody’s guess. Continued high unemployment and mortgage interest rate resets in 2010 are the 800 pound gorilla in the room.
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