The S&P/Case-Shiller Home Price Indices report for June 2009 was released today. The report show "show that the U.S. National Home Price Index improved in the second quarter of 2009."
“The S&P/Case-Shiller U.S. National Home Price Index – which covers all nine U.S. census divisions – recorded a 14.9% decline in the 2nd quarter of 2009 versus the 2nd quarter of 2008. While still a substantial negative annual rate of return, this is an improvement over the record decline of 19.1% reported in the 1st quarter of the year. ”
The report's chart shows that nationally, home prices are back to "their early-2003 levels." YoY, DC area prices are 11.69% lower. However, prices have increased each month since March 2009. The DC area's home price index is close to that of December 2008.
The charts below reflect home price data for the Washington, DC MSA.