Tuesday, August 30, 2011

Case Shiller: Existing Home Prices Rose 1.1% Last Month

The 10- and 20-city composites are down 3.8% and 4.5% from a year ago, as opposed to 3.6% and 4.5% reported in May. The 4.5% decline in the 20-city index for May and June represents the fastest depreciation since late 2009.

On a non-seasonally adjusted basis both the 10- and 20-city indices rose 1.1% month-over-month, however no metro areas have prices above year ago levels.

This release also included the quarterly index, which fell 5.9% from last year.

This report, although not encouraging, saw housing prices hold steady. Year-over-year price differences were almost unchanged or improved in 13 metro areas.

Read the release.

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