Wednesday, September 01, 2010

S&P/Case-Shiller Report: June 2010

The S&P/Case-Shiller Home Price Indices report for June 2010 was released this week. The report shows "show that the U.S. National Home Price Index rose 4.4% in the second quarter of 2010, after having fallen 2.8% in the first quarter. Nationally, home prices are 3.6% above their year-earlier levels. In June, 17 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were up; and the two composites and 15 MSAs showed year-over-year gains. Housing prices have rebounded from crisis lows, but other recent housing indicators point to more ominous signals as tax incentives have ended and foreclosures continue."

YoY, DC prices rose 6.57%. However, it's interesting to note that since April, the YoY and Month/Month rate of increase, while positive, is declining to flat.

The charts below reflect home price data for the Washington, DC MSA.