ECON: Home Prices Continued To Rise In August 2012 - Case Shiller
- 20 City Composite +0.5 vs +0.5 Consensus
- non adjusted +0.9 vs +0.9 consensus
- annually +2.0 pct vs +1.9 pct consensus
Data through August 2012, released today by S&P Dow Jones Indices for
its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, showed average home
prices increased by 0.9% for both the 10- and 20-City Composites in August versus July 2012. Nineteen of
the 20 cities and both Composites posted positive monthly gains in August; Seattle was the only exception
where prices declined 0.1% over the month.
The 10- and 20-City Composites recorded annual returns of +1.3% and +2.0% in August 2012 – an
improvement over the +0.6% and +1.2% respective annual rates posted for July 2012. Eighteen of the 20
cities and both Composites posted better annual returns in August compared to July 2012. Annual returns
for Dallas remained unchanged at +3.6% and Chicago saw its annual return worsen from -1.0% in July to
-1.6% in August 2012. Only three cities posted negative annual returns in August: Atlanta with -6.1%, New
York at -2.3% and Chicago at -1.6%. Phoenix posted its fourth consecutive month double-digit increase in
annual rates with a recording of +18.8% in August 2012. It is the best performing city among the 20 cities
followed by S&P Dow Jones Indices.