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

Hickey and Walters (Bespoke) submit: The S&P/Case-Shiller home price indices have quickly become a go-to guide for residential real estate valuations across the country. We've been covering the indices over the past few months, and below we have updated our data to include the most recent numbers (May '07) released today.

As shown below, the Composite 10-City and Composite 20-City indices once again saw month over month and year over year declines in May. While most cities continue to see year over year numbers decline, some areas continue to show home-price growth. Seattle, Charlotte, Portland, Dallas and Atlanta all showed modest gains in home prices versus a year ago. Detroit saw the biggest declines at 11.06%. One modest month over month gain where people probably didn't expect it was Boston.

We also track the CME housing futures that trade off of the Case-Shiller indices to see what traders are expecting for home prices going forward. Based on the contracts expiring in May 2008, traders are looking for further declines across the board. Denver, Miami and Boston are expected to take the biggest hit from current levels, while Chicago, New York and San Francisco are expected to fall the least.

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Below we provide the monthly historical year over year percent changes in home prices for all 20 cities that S&P/Case-Shiller tracks.