CaseShiller 20City Home Price Index Hits 6 Month High

Dated: 04/29/2015

Views: 2185


According to the Case-Shiller 20-City Home Price Index for February, month-to-month home prices increased by 0.50 percent from January’s reading and achieved the highest year-over-year gain in six months. Analysts expected February home prices to increase by 4.80 percent. David Blitzer, chairman of the S&P Dow Jones index committee, said that home prices continue to rise and outpace both inflation and wage gains. Although this is great news for homeowners, it also demonstrates the challenge of affordability for home buyers.

Year-Over-Year Home Prices: Denver Leads in Home Price Gains

Home prices in Denver, Colorado increased by 10 percent year-over-year in February; San Francisco, California home prices gained 9.80 percent year-over-year. Miami, Florida home prices gained 9.20 percent year-over-year. Dallas, Texas and Portland, Oregon rounded out the top five cities with the highest year-over-year home price appreciation in February. Home prices in Dallas increased by 8.60 percent, while and Portland’s home prices gained 7.10 percent year-over-year.

February readings for year-over-year home price growth were lowest in Washington, DC at 1.40 percent. Cleveland, Ohio and New York, New York posted year-over-year gains of 2.30 and 2.50 percent respectively. Phoenix, Arizona home prices grew by 2.90 percent and Minneapolis, Minnesota home prices gained 3.10 percent year-over-year.

Chicago, Illinois and Detroit Michigan posted year-over-year gains of 3.40 percent and 3.7- percent. Both cities have shown the smallest gains in prior months but home prices are gaining in year-over-year readings.

San Francisco Tops Month-to-Month Home Price Growth

Price gains from January to February 2015 were led by San Francisco, California with a reading of 2.00 percent. Denver, Colorado home prices gained 1.40 percent; Seattle, Washington home prices gained 0.80 percent, and were followed closely by a gain of 0.80 percent in Los Angeles, California and a tie at 0.70 percent for Portland, Oregon and San Diego, California.

Cites showing negative readings and the lowest month-to-month price gains in February were Boston, Massachusetts at -0.20 percent; Cleveland, Ohio at -0.10 percent. Chicago held steady with 0.00 percent gain and Atlanta, Georgia and Minneapolis, Minnesota posted month-to-month gains of +0.10 percent.

Home prices remained about 16 percent below their 2006 peak at the end of February.

Want to Advertise on this Site?

Latest Blog Posts

Prepare Your Home For Summer

Don't forget about home maintenance during busy summer months. Stay on track with our project checklist.Clean outdoor patio furniture and grilling equipmentInspect all outdoor recreational

Read More

Zillow Premier Agent News

"Love ‘em or hate em, Zillow is building on a program called Zillow Instant Offers in which sellers upload information about their homes and receive offers from local investors

Read More

Housing Recapitulation By Eric Funk

NJ Housing Recapitulation Explained– April 15th – Eric Funk – Licensed Realtor – 551-587-2359According to a recent housing report listing volume is down over 10% from the last quarter of

Read More

Home Buying Process N Outline To Set Expectations Accurately

Home Buying ProcessI am comfortable that we share the same goals and are dedicated to the same outcome, closing!In our efforts to move forward to this end I have outlined the most common steps in

Read More