S&P reports this morning the changes in the Case-Shiller Home Price Index in July:

Data through July 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed average home prices increased by 1.5% for the 10-City Composite and by 1.6% for the 20-City Composite in July versus June 2012. For the third consecutive month, all 20 cities and both Composites recorded positive monthly changes. It would have been a fourth had prices not fallen by 0.6% in Detroit back in April.
The 10- and 20-City Composites posted annual returns of +0.6% and +1.2% in July 2012, up from their unchanged and +0.6% annual rates posted for June 2012. Fifteen of the 20 MSAs and both Composites posted better annual returns in July as compared to June 2012. Dallas and Washington D.C. saw no change in their annual rates; and Cleveland, Detroit and New York saw their rates worsen in July, with respective returns of +0.4%, +6.2% and -2.6%. After nine consecutive months of double digit annual declines, Atlanta finally improved to a -9.9% annual rate in July 2012, but still the worst among the 20 cities followed by S&P Dow Jones Indices.

The Case-Shiller HPI is now at 157.3 for the composite-10, up from 155.02 in June, and 144.61 for the composite-20, up from 142.21. These are the highest readings since September of 2010.

 

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