A Look At U.S. Home Price Performance in 20 Markets

Hickey and Walters (Bespoke) submit: At the start of June, we posted the historical year-over-year % change in S&P/Case-Shiller Home Prices for the 20 cities tracked.

The April 2008 S&P/Case-Shiller Home Prices were just released this morning, so we have updated our charts accordingly. The year-over-year and month-over-month changes for each city as well as the two composite indices are listed below.

While many cities have seen declines in home prices versus a year ago, there are still a few cities which have shown growth, although at a smaller pace than in the past. On a monthly basis, there were eight cities, including Boston and San Francisco, that saw increases in home prices from March to April.

We also updated the chart below which shows the difference between the most recent S&P/Case-Shiller Home Price report and the May 2008 housing futures offered by CME, which trade off of the S&P/Case-Shiller Indices. As shown, from now through May 2008, investors are still looking for declines across the board.

click to enlarge

The charts below show the historical monthly year-over-year percent change in home prices of the 20 selected cities and composite indices that S&P/Case-Shiller tracks.

Comments

[Malkiel:]

The story of the sub-prime implosion has many complex facets that seem to be making the story play out differently than expected. In spite of some big mortgage players going under others seem to be springing up to keep liquidity in markets like California where prices ought to be going down but won't so long as ARMS are readily available. Starter homes, as you might expect, never were going to be hurt by tightened lending practices and are selling at the usual rate. Rising average incomes are keeping people able to afford their current mortgages and buy in the same range when they sell. Buyers of McMansions with outsized mortgages seem to be stalling their tax payments expecting to settle up when they sell, keeping them above bankruptcy. All in all the flat situation we are in may be as bad as it gets, which isn't so bad.

2007 Jun 26 05:35 PM

[rexspen:]

whereis America"s fourth largest city?

2007 Jun 27 12:29 AM