The latest data from the S&P/Case-Shiller house price indices shows house prices increasing in 17 of 20 major residential markets. The overall composite index are up for the fourth month in a row but year-over-year comparisons still show a double-digit decline in prices. A snapshot of the data is provided below.
The three lagging markets are Charlotte, Las Vegas and Cleveland. Otherwise house prices appear to have stabilized at 2003 levels, which in real terms is quite a loss of wealth. As the summer selling season is now over, we will soon begin to get a better indication of how permanent this price plateau is.
Source
S&P/Case-Shiller Home Price Indices – Standard & Poor’s
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