For the month of June, the S&P Case-Shiller House Price Index improved a bit, enough to provide some hope anyway. This index has been in a nosedive and then flat-line since 2007, so any news that isn’t the same is essentially good news.
The composite-10 city index improved 2.2% month over month to 155.02, while the composite-20 city increased 2.3% month over month to 142.21. Both of these readings are the highest from the index since February of 2011.
As you can see in the chart, we are still far from the housing explosion we saw in the first half of the 2000′s. There is still a ton of ground to make up to restore the housing market, but the numbers from June are positive.