The S&P|Case-Shiller Home Price Indices with data through June 2012 were released this morning. They track home prices in 20 US metropolitan markets, from Miami to Seattle. We monitor these numbers because they’re an indicator of the available housing stock and consumer confidence.
The data show an increase in all 20 of the 20 metropolitan markets tracked with Atlanta showing an increase of 4.4% over the numbers from May 2012. That still leaves Atlanta down 12.1% over the past year though the market has been slowly erasing that loss over the past couple of months.
The largest monthly increase was in Detroit with a gain of 6%. Only six metropolitan markets are still showing a loss over the past year. They are Atlanta, Chicago, Las Vegas, Los Angeles, New York and San Diego. All of those markets are within a point or two of their prices from one year ago.
Home prices in Phoenix are up 13.9% over the past year with Minneapolis in second place after posting an increase of 5.7% over the past year. Most of the increases over the past year are modest.
You can find the full list of the twenty metropolitan markets and their numbers on the third page of the press release: http://rta.bz/RjqGnI [standardandpoors.com]
Photo by Diana Parkhouse used under creative commons license.