The S&P|Case-Shiller Home Price Indices with data through September 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 slight increases in 15 of the 20 metropolitan markets tracked with Atlanta showing an increase of 0.3% over the numbers from August 2012. That finally brings Atlanta to a 0.1% increase over prices one year ago – positive territory.
Of the changes over the past month, only five markets showed a change of greater than one percent so prices remain mostly unchanged over the past month. Of the five markets to grow over 1%, none grew more than 1.4%. The largest monthly increases were in Las Vegas and San Diego, both showing an increase of 1.4%.
There are now only two metropolitan markets still showing a loss over the past year. They are Chicago and New York with loses of 1.5% and 2.3% respectively.
Phoenix continues to lead the increase in home prices with an 20.4% increase over the last year. With the gains over the last two months, more markets are showing increases over the last year of around 5% – some are climbing toward 10%.
You can find the full list of the twenty metropolitan markets and their numbers on the fourth page of the press release: http://rta.bz/WtlqRm [standardandpoors.com]
Photo by Diana Parkhouse used under creative commons license.