Case-Shiller Home Price Index Update

down-house.jpgThis week brought the latest Case-Shiller report, with data being crunched from June of this year. The monthly report, which tracks changes in the value of residential housing, covers 20 metropolitan areas in the United States, with three of those being in California: San Francisco, Los Angeles, and San Diego.

Overall, housing values are down 2.3% over May of 2008. Some of the cities, however, are showing a bit of a rebound, with 9 of the markets having a positive change in the last month. While none of the California cities took top honors, Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Minneapolis, and New York fared better than the rest. As for our sunshine state, Los Angeles is down 1.4% over last month and 25.3% over this time last year; San Diego is down 1.5% over last month and 24.2% over last year; and, San Francisco is down 1.8% and 23.7%, respectively.

Currently the biggest losers in the game over the last year are Las Vegas (-28.6%), Phoenix (-27.8%) and Miami (-28.3%), with Charlotte (-1%), Dallas (-3.2%) and Denver (-4.7%) on the winning end, so to speak.