S&P Case-Shiller Home Price Index for Qtr 2

In a turn-around from the first quarter drop of 4.1%, the second quarter Case-Shiller Home Price Index rose 3.6% nationally, the composite index of the 20 metropolitan areas tracked. However, this is still a 5.9% annual decline. Nationally, home prices are now back at their early 2003 levels. Here are the stats for the 20 Metropolitan Areas the index tracks:

Metropolitan Area - June to May Change - 1-Year Change

Atlanta 1.5% -4.9%
Boston 2.4% -2.1%
Charlotte 2.0% -4.1%
Chicago 3.2% -7.4%
Cleveland 1.5% -6.1%
Dallas 1.4% -4.3%
Denver 1.6% -2.5%
Detroit 2.2% -6.6%
Las Vegas 0.1% -6.0%
Los Angeles 0.3% -3.4%
Miami 0.6% -5.1%
Minneapolis 3.2% -10.8%
New York 0.9% -3.6%
Phoenix 0.3% -9.3%
Portland 0.0% -9.6%
San Diego 0.2% -5.3%
San Francisco 0.4% -5.4%
Seattle 0.7% -6.4%
Tampa 1.3% -7.0%
Washington 2.3% -1.2%

It’s nice to see that, except for the flat prices in Portland, all 19 of the other Metropolitan Areas showed increases from May. But, is this an improvement that can hang around or grow? Read on.