The S&P|Case-Shiller Home Price Indices with data through July 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.
Again, the data show an increase in all 20 of the 20 metropolitan markets tracked with Atlanta showing an increase of 2.6% over the numbers from June 2012. That still leaves Atlanta down 9.9% over the past year though the market has been slowly erasing that loss over the past couple of months.
The largest monthly increase was again in Detroit with a gain of 3.3%. There are still four metropolitan markets still showing a loss over the past year. They are Atlanta, Chicago, Las Vegas and New York.
The rate of price increases appears to be slowing with four markets posting gains of less than 1% and eleven markets showing gains of less than 2%. Phoenix continues to lead the increase in home prices with a 16.6% increase over the last year. Most of the increases over the past year are modest with seven markets within 1% of their prices one year ago.
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/UCYDGt [standardandpoors.com]
Photo by Diana Parkhouse used under creative commons license.